Senate Bill No. by Senator Foil amends R.S. 17:3351(A)(9) to grant the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College (LSU) the authority to buy, sell, transfer, or exchange immovable property under specific conditions. The bill allows these transactions to occur within East Baton Rouge Parish and requires that the property involved is not more than one and a half miles from another LSU-owned property. Additionally, the purchase price for acquired property must not exceed its appraised fair market value, while the sale price for alienated property must not be less than its appraised fair market value. The board is also mandated to notify the state land office in writing of any transactions within five business days.

The proposed law provides exceptions to existing regulations regarding the transfer of surplus immovable property, which typically involves the division of administration and the commissioner of administration. It retains the general powers of postsecondary education management boards while specifically empowering LSU's board of supervisors to conduct property transactions that meet the outlined criteria. Furthermore, the bill ratifies any previous transactions conducted under these new provisions, ensuring that past actions are recognized and validated. The effective date for these changes is set for August 1, 2026.

Statutes affected:
SB518 Original: 17:3351(A)(9)