LA HB346

Establishes the Local Infrastructure Fund as a special fund in the state treasury to receive legislative appropriations, transfers, grants, donations, and gifts

Fund monies must be appropriated to the Division of Administration, Office of Community Development, for reimbursing political subdivisions for expenses incurred in repairing or mitigating damage caused by broadband service expansion

Interest earned on fund investments is credited back to the fund, and unexpended monies remain in the fund at fiscal year end rather than reverting to the general fund

Office of Community Development must develop administration guidelines subject to Water Sector Commission review and approval before implementation

Quarterly reporting to the Water Sector Commission on fund expenditures is required