House Bill No. [insert bill number] establishes the Louisiana State Infrastructure Bank, aimed at enhancing funding for infrastructure projects across the state. The bill introduces new provisions in the Louisiana Revised Statutes, specifically R.S. 36:4(B)(39), R.S. 48:77.3, and Subpart B of Part V of Chapter 1 of Title 48, which detail the creation of the bank, its governance structure, and the Louisiana State Infrastructure Fund. This fund will include various special accounts designated for specific infrastructure projects, such as highways, transit, and rail. The bank will have the authority to incur debt, issue bonds, and provide loans or financial assistance to qualified borrowers, including private entities involved in public infrastructure projects.

The governance of the bank will be overseen by a board of directors composed of representatives from state departments and appointed members with relevant experience. The board is responsible for adopting bylaws, ensuring compliance with state laws, and submitting annual reports to the governor and legislature. The legislation emphasizes the importance of a revolving loan program to maximize resources while protecting taxpayers. It also outlines the criteria for project selection, prioritizing public benefit and projects serving rural or underserved communities. The bank is prohibited from accepting public deposits or providing consumer banking services, ensuring its focus remains solely on public financing for infrastructure projects. The law is set to take effect on July 1, 2026.