§ 39:462.1 — Louisiana Rural Infrastructure Revolving Loan Program; purposes

Louisiana § 39:462.1

• Jurisdiction: Louisiana
• Title 39: Procurement and Contract

Text

§462.1. Louisiana Rural Infrastructure Revolving Loan Program; purposes
A. The legislature finds that:
(1) State government has assisted in funding many local capital outlay projects that
are necessary to provide local facilities, but the choice involved with this state funding is to
either reduce the amount of funding available for state programs and services or ignore the
need for assistance to local governments.
(2) Even with established state and federal government programs to assist local
governments with needed and necessary funding for infrastructure projects, including those
for clean water and sewerage projects, local governments encounter financial challenges in
meeting local contributions required by the existing state capital outlay program and other
infrastructure programs.
(3) The most effective way of accomplishing the goal of providing for local
infrastructure project financing and for preservation of the state fisc over the long term is to
establish a low-interest-rate revolving loan fund to be available for local infrastructure
projects to provide an alternative means to fund appropriate local infrastructure projects that
would otherwise compete with scarce state funding for state projects.
B. To continue to provide required funding for the planning, design, construction,
and maintenance connected with needed infrastructure projects, it is the purpose of this
Chapter to provide for the establishment and administration of a program to make loans from
a revolving loan fund to assist eligible local governments in funding eligible infrastructure
projects and enter into cooperative endeavor agreements and interstate compacts as may be
necessary and proper to fulfill the purposes of this Chapter.

Legislative History

Acts 2023, No. 424, §1, eff. July 1, 2023.