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LA HB335
Bill
Status
4/3/2025
Primary Sponsor
Christopher Turner
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AI Summary
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Requires the state treasurer to deposit $100 million annually into the College and University Deferred Maintenance and Capital Improvement Fund beginning in Fiscal Year 2025-2026 and continuing for four additional fiscal years (five years total, $500 million cumulative)
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Fund monies are used by the Office of Facility Planning and Control to pay for deferred maintenance of public facilities at state colleges and universities
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Existing funding sources remain in place, including bond proceeds, legislative appropriations, federal funds, and donations or grants
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Unexpended monies remain in the fund at fiscal year end, and interest earned on invested funds is credited back to the fund
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Amends R.S. 17:3369.4(A) to add the new mandatory annual deposit requirement to existing law
Legislative Description
Dedicates revenue to the College and University Deferred Maintenance and Capital Improvement Fund (OR -$100,000,000 GF RV See Note)
FUNDS/FUNDING
Last Action
Read by title, under the rules, referred to the Committee on Appropriations.
4/14/2025