Establishes the Transportation Backlog Fund to finance transportation projects in Louisiana parishes with maximum severance tax allocations.
Louisiana HB1123 establishes the Transportation Backlog Fund, a special fund in the state treasury, to finance transportation infrastructure projects in parishes that have reached their maximum severance tax allocations. The fund will receive an initial deposit of $20 million from the state general fund. Projects must be approved by the Joint Committee on Transportation, Highways, or Public Works. Interest earned on investments will be credited to the fund, and unexpended funds will remain in the fund.
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