Louisiana HB1200 amends the Louisiana Rural Infrastructure Revolving Loan Program to expand eligibility and modify fund management.
Louisiana HB1200 revises the Louisiana Rural Infrastructure Revolving Loan Program to enhance its effectiveness and accessibility. The bill expands eligibility for loans from the program to include political subdivisions and private entities involved in eligible infrastructure projects. It also transfers the management and operation of the fund from the Department of the Treasury to the Office of Rural Development within the Governor's office. The bill mandates the Office to establish rules for fees, emergency project requests, and underwriting standards, including risk management policies.
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