Signed by Governor Bobby Jindal

Full Bill Text

Vote Smart's Synopsis:

Vote to concur with Senate amendments and pass a bill that authorizes any parish or municipality, or combination of parishes or municipalities to form a quasi-government entity compact in order to utilize public-private partnerships to develop rail travel in Louisiana.

Highlights:

-Requires that a board of the compact be established that consists of at least 5 directors, with each parish or municipality included in the compact electing an equal number of directors (Sec. 1):

-Specifies that all directors have equal status and an equal vote and that directors of the board shall not be entitled to any salary for their services, but each member shall be reimbursed for actual expenses necessarily incurred in the performance of their duties, of no more than seventy-five dollars per day.

-Requires that the compact shall elect from its directors a chairman, a vice chairman, and a secretary-treasurer who shall each serve 1 year terms (Sec. 1). -Authorizes a compact created under this act to construct and operate transit way facilities along a transit corridor with the written consent of the governing bodies within the geographic boundaries of such compact after a public hearing (Sec. 1). -Establishes, but is not limited to, the following powers preserved to the compact if necessary (Sec. 1):

-To adopt and amend laws, regulations and procedures in order to conduct business or designate an official journal; -To construct, maintain, improve, extend, develop, own, lease, etc, projects within the geographic boundaries of the compact; -To alternate fees and charges in connection to the maintenance, operation, and regulation of speed limits on the railway transportation system; -To have contact with any person, partnership, association, or corporation desiring the use of any part of the project; -To acquire land through the use of eminent domain for the sole purpose of constructing a railway transportation system; -To establish the control points of ingress (entering) and egress (leaving) for each project; -To move and replace roads that are affected or served by the government with equal or better facilities; -To enter properties or waters for the purpose of surveying; -To provide insurance on the project; -To receive subventions, grants, loans, advances and contributions; and -To enter into contracts and agreements and execute all necessary instruments.

-Prohibits a freight railroad system or any of its infrastructure or assets from being taken or included within the operational activities of any compact unless specifically agreed to by the freight railroad company (Sec. 1). -Requires that any portion of a compact project that is proposed that is to connect of directly affect the operation of any state highway or state-designated project shall be approved by the Department of Transportation and Development (Sec. 1). -Prohibits state tax increments from being dedicated to pay any revenue bonds of any compact or be otherwise used to obligate the state financially to support a compact or projects of a compact (Sec. 1). -Authorizes a compact company to contract with a private entity to provide services for design, cost estimate, feasibility studies, operations, management and construction management services and that notice of such requests for proposals shall be published twice, once a week for two weeks, in the official journal of the compact and once in at least one trade journal (Sec. 1). -Requires that a compact created shall contract with either the state police, a law enforcement district, or municipal law enforcement agency for law enforcement and patrol functions (Sec. 1). -Authorizes a compact to issue bonds for any corporate purpose and pledge revenues for the payment of the principal and interest of such bonds, which shall not be deemed to constitute a pledge of the full faith and credit of the state or of any governmental unit (Sec. 1). -Specifies that the issuance of bonds shall not directly, indirectly, or contingently obligate the state or any governmental unit of the state to levy any taxes or to make any appropriation for their payment (Sec. 1). -Requires that prior to the issuance of any bonds for a project, a business plan must be prepared detailing the estimated expenditures for and revenues from the operation of all capital improvements and the times schedule for such expenditures and receipts (Sec. 1). -Authorizes bonds to be issued without obtaining the consent of the state or any political subdivision, except that the issuance of such bonds shall be subject to the approval of the State Bond Commission (Sec. 1). -Specifies that for a period for thirty days after the date of publication of a notice of intent to issue bonds that any person interested shall have the right to contest the legality of the resolution and the legality of the bond issued for any case (Sec. 1). -Requires that once bonds have been paid in full, the municipality shall assume jurisdiction over the project and the existence of the compact shall terminate (Sec. 1).

Full Bill Text