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LouisianaHB 32026 Regular SessionHouseWALLET

CAPITAL OUTLAY: Provides for the Omnibus Bond Act

Sponsored By: Tony Bacala (Republican)

Signed by Governor

Revenue and Fiscal AffairsWays and Means

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 1 costs, 1 mixed.

Unused state bond money pays debt

The state treasurer must move unused balances of $10,000 or less from general obligation bond accounts created before 2020. The money goes to the Bond Security and Redemption Fund to pay the related bonds, including bonds used to refinance them. If those bonds are fully repaid, the money pays other outstanding state general obligation bonds.

Student fees and project revenues repay bonds

For project bonds requiring reimbursement, public boards and agencies must send designated student fees or other revenues to the state treasury. Fees and charges must cover principal, interest, any premium, and required reserves while the bonds remain unpaid. Before issuance, the Attorney General and State Bond Commission must approve a repayment contract, and the commission must find projected revenues sufficient. Each project’s reserve receives one-tenth of average annual debt payments for the next ten years, starting in the issuance year and continuing for nine more fiscal years. The reserve must reach at least one average year’s debt payments within ten years and be maintained to cover defaults. Agencies can issue reimbursement bonds, but new bonds sharing equal repayment rights require adequate reserves; bonds with lower repayment priority are also allowed. The commission can amend contracts when reimbursement proceeds move to another project. These duties apply to public entities, not households generally.

Louisiana resets borrowing for public projects

Louisiana’s State Bond Commission can issue state-backed debt for projects in the 2026 Capital Outlay Act, following each project’s terms. The law repeals earlier borrowing authorizations, except refunding-bond authorizations and Act 41 of the 2006 First Extraordinary Session; existing bonds remain valid. New bonds share backing from the Bond Security and Redemption Fund equally with other bonds secured by that fund. The commission sets interest rates and repayment schedules and can obtain credit or liquidity support at the issuer’s expense; the treasurer invests proceeds until spent. The law generally expires June 30, 2027, but continues to govern bonds already sold, issued lines of credit, and signed construction contracts.

Sponsors & Cosponsors

Sponsor

  • Tony Bacala

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 158 • No: 0

Senate vote • 5/26/2026

Rules suspended. Read by title, passed by a vote of 38 yeas and 0 nays, and ordered returned to the House. Motion to reconsider tabled.

Yes: 38 • No: 0

House vote • 4/16/2026

Read third time by title, roll called on final passage, yeas 104, nays 0. The bill, having received two-thirds vote of the elected members, was finally passed, title adopted, ordered to the Senate.

Yes: 104 • No: 0

House vote • 4/13/2026

Reported favorably

Yes: 16 • No: 0

Actions Timeline

  1. Signed by the Governor. Becomes Act No. 779.

    6/8/2026House

  2. Effective date: 06/08/2026.

    6/8/2026House

  3. Sent to the Governor for executive approval.

    5/28/2026House

  4. Enrolled and signed by the Speaker of the House.

    5/27/2026House

  5. Signed by the President of the Senate.

    5/27/2026Senate

  6. Rules suspended. Read by title, passed by a vote of 38 yeas and 0 nays, and ordered returned to the House. Motion to reconsider tabled.

    5/26/2026Senate

  7. Received from the Senate without amendments.

    5/26/2026House

  8. Read by title; made Special Order of the Day No. 10 for 5/26.

    5/25/2026Senate

  9. Rules suspended. Reported favorably. Rules suspended. Read by title and referred to the Legislative Bureau.

    5/21/2026Senate

  10. Reported without Legislative Bureau amendments. Read by title and passed to third reading and final passage.

    5/21/2026Senate

  11. Rules suspended.

    5/19/2026Senate

  12. Reported favorably. Rules suspended. Read by title and recommitted to the Committee on Finance.

    5/19/2026Senate

  13. Read second time by title and referred to the Committee on Revenue and Fiscal Affairs.

    4/21/2026Senate

  14. Received in the Senate. Read first time by title and placed on the Calendar for a second reading.

    4/20/2026Senate

  15. Read third time by title, roll called on final passage, yeas 104, nays 0. The bill, having received two-thirds vote of the elected members, was finally passed, title adopted, ordered to the Senate.

    4/16/2026House

  16. Read by title, ordered engrossed, passed to 3rd reading.

    4/14/2026House

  17. Made Special Order of the day No. 3 for 04/16/2026.

    4/14/2026House

  18. Reported favorably (16-0).

    4/13/2026House

  19. Read by title, under the rules, referred to the Committee on Ways and Means.

    3/18/2026House

  20. Read by title. Lies over under the rules.

    3/17/2026House

Bill Text

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