(Constitutional Amendment) Provides for additional authorized uses of funds invested in a state infrastructure bank (OR See Note)

House Bill 810 is a joint resolution proposing an amendment to Article VII, Section 14(B) of the Louisiana Constitution to expand the permissible uses of public funds invested in a state infrastructure bank. Currently, the Constitution limits such investments solely to transportation projects. This amendment would add water, energy, resilience, and hazard mitigation projects to the list of authorized uses while retaining the existing transportation authority. The specific mechanism involves modifying the constitutional text of Section 14(B) to include these four additional project categories in the subsection governing authorized uses of public funds for state infrastructure banking activities.

The practical effect of this amendment would enable state government and state infrastructure banks to deploy public capital toward a broader spectrum of critical infrastructure needs beyond roads and bridges. State agencies, infrastructure banks, and local governments seeking loans, pledges, or guarantees from a state infrastructure bank would become eligible for funding in water systems, energy infrastructure, resilience initiatives, and hazard mitigation programs. This expansion affects communities vulnerable to flooding and natural disasters, municipalities and water systems seeking capital improvements, energy infrastructure developers, and any public or private entities that partner with state infrastructure banks in these sectors.

The amendment operates within the constitutional framework of Article VII, Section 14, which addresses the donation, loan, or pledge of public credit and establishes specific exceptions to restrictions on using public funds for private purposes. The authorization for state infrastructure banking already exists in current constitutional law but is narrowly constrained to transportation. This proposal fits within the existing constitutional exception structure by adding categories to an already-recognized authorized use rather than creating entirely new authority. The amendment requires approval by Louisiana voters at the statewide election scheduled for November 3, 2026, consistent with the constitutional amendment process requiring submission to the electorate as established in Article XII of the Louisiana Constitution.