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LA SB518
Bill
Status
4/29/2026
Primary Sponsor
Franklin Foil
Click for details
AI Summary
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LSU Board of Supervisors gains authority to purchase, sell, transfer, or exchange immovable property without going through the Division of Administration, bypassing typical state property transaction requirements in Title 39 and Title 41
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Property transactions are limited to East Baton Rouge Parish and must be within 1.5 miles of existing LSU-owned property
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Acquisitions cannot exceed appraised fair market value; sales cannot be below appraised fair market value
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Written notice to the state land office is required within five business days of any transaction
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Previous property transactions conducted by the board in accordance with these provisions are retroactively ratified
Legislative Description
Allows Louisiana State University and Agricultural & Mechanical College to buy and sell certain real estate. (8/1/26)
PUBLIC LANDS
Last Action
Received in the House from the Senate, read by title, lies over under the rules.
4/29/2026