§100.256. Local Infrastructure Fund

            A. There is hereby established in the state treasury, as a special fund, the Local Infrastructure Fund, hereafter referred to in this Section as the "fund".

            B. After allocation of money to the Bond Security and Redemption Fund as provided in Article VII, Section 9(B) of the Constitution of Louisiana, the treasurer shall deposit into the fund any monies transferred or appropriated by the legislature. The treasurer shall also deposit into the fund any grants, donations, gifts, or other monies which may become available.

            C. Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on investment of monies in the fund shall be credited to the fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.

            D. Monies in the fund shall be appropriated to the division of administration, office of community development, for the reimbursement of qualifying expenses of a political subdivision incurred in the repair or mitigation of damage caused by the expansion of broadband services.

            E. The division of administration, office of community development, shall develop guidelines for the administration of monies in the fund and shall submit such guidelines for review and approval by the Water Sector Commission prior to implementation. The office of community development shall submit a quarterly report to the Water Sector Commission on the monies expended from the fund.

            Acts 2025, No. 365, §3, eff. June 20, 2025.