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LA SB72
Bill
AI Summary
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Annual debt service payments for Louisiana Community and Technical College System bond-financed projects are capped at $43.9 million per year
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Eight specific campus projects are authorized for bond financing: Northshore Technical Community College-Hammond, River Parishes Community College-Donaldsonville, SOWELA Technical Community College-Lamar Salter, Northwest Louisiana Technical Community College-Shreveport, Louisiana Delta Community College-Bastrop, Central Louisiana Technical Community College-Rod Brady, Central Louisiana Technical Community College-Ward H. Nash Avoyelles, and South Louisiana Community College-T.H. Harris Opelousas
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Each project requires a minimum 12% private match of total project cost, with donated property fair market value eligible as matching funds; no project financing may begin until match funds are secured
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The board may amend the authorized project list based on periodic facilities needs assessments to address facility conditions, strategic priorities, or economic development needs
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Effective date is July 1, 2025
Legislative Description
Provides relative to the issuance of bonds for financing certain capital improvement projects within the Louisiana Community and Technical College System. (2/3-CA7s6(A))(7/1/25) (EN SEE FISC NOTE SD EX See Note)
BONDS
Last Action
Effective date 7/1/2025.
6/4/2025