7/13/05-A plan to set aside money to complete Louisiana’s portion of Interstate 49 has been signed into law by Gov. Kathleen Blanco.
The new law, previously HB654, allows as much as $15 million dollars annually from unclaimed property funds in the state to be used to help pay off loans to complete unfinished stretches of the interstate from New Orleans to the Arkansas border.
Unclaimed property funds are turned over to the state by businesses when the rightful private owners cannot be found.
The money borrowed through bonds would be used to lessen the need for federal dollars. The total I-49 funding – which could be as much as $750 million – would be split evenly to the north and south portions.
Those stretches run north from I-20 in Shreveport to the Arkansas line and south from I-10 in Lafayette to the West Bank Expressway in New Orleans.
The revenue would be used for I-49 when the federal government puts up money for construction. Approval of the state Bond Commission would then be needed before the bonds could be sold.

6/21/05-The Senate voted 37-1 June 16 to advance a bill to Gov. Kathleen Blanco that would set aside money to complete the state’s portion of Interstate 49. The bill unanimously passed the House in May.
Sponsored by Rep. Billy Montgomery, D-Haughton, HB654 would allow as much as $15 million dollars annually from unclaimed property funds in the state to help pay off borrowing to complete unfinished stretches of the interstate from New Orleans to the Arkansas border.
Unclaimed property funds are turned over to the state by businesses when the rightful private owners cannot be found.
The money borrowed through bonds would be used to lessen the need for federal dollars. The total I-49 funding – which could be as much as $750 million – would be split evenly to the north and south portions.
Those stretches run north from I-20 in Shreveport to the Arkansas line and south from I-10 in Lafayette to the West Bank Expressway in New Orleans.
The revenue would be used for I-49 when the federal government puts up money for construction. Approval of the state Bond Commission would then be needed before the bonds could be sold.

6/13/05-The Senate Finance Committee voted unanimously June 9 to advance a bill that would set aside money to complete the state’s portion of Interstate 49.
Sponsored by Rep. Billy Montgomery, D-Haughton, HB654 would allow as much as $15 million dollars annually from unclaimed property revenues in the state to help pay off bonds to complete unfinished stretches of the interstate from New Orleans to the Arkansas border.
The total I-49 funding – which could be as much as $750 million – would be split evenly to the north and south portions.
Those stretches run north from I-20 in Shreveport to the Arkansas line and south from I-10 in Lafayette to the West Bank Expressway in New Orleans.
The revenue would be used for I-49 when the federal government puts up money for construction. Approval of the state Bond Commission would then be needed before the bonds could be sold.
The House-approved bill has been sent to the full Senate for further consideration. If approved there, it would head to Gov. Kathleen Blanco, who endorsed the legislation last month.
For bill status, call (504) 342-2456. In Louisiana, call 1-800-256-3793.

5/24/05-The House unanimously approved a bill May 23 that would set aside money to complete Louisiana’s portion of Interstate 49.
Sponsored by Rep. Billy Montgomery, D-Haughton, HB654 would allow as much as $15 million dollars annually from unclaimed property revenues in the state to help pay off bonds to complete unfinished stretches of the interstate from New Orleans to the Arkansas line.
The total I-49 funding – which could be as much as $750 million – would be split evenly to the north and south portions.
Those stretches run north from I-20 in Shreveport to the Arkansas line and south from I-10 in Lafayette to the West Bank Expressway in New Orleans.
The revenue would be used for I-49 when the federal government puts up money for construction. Approval of the state Bond Commission would then be needed before the bonds could be sold.
The bill has been sent to the Senate.
For bill status, call (504) 342-2456. In Louisiana, call 1-800-256-3793.
An identical Senate bill – SB217 – recently passed the Senate Transportation Committee and is awaiting consideration before the full Senate.
The Senate is expected to forward the legislation to Gov. Kathleen Blanco, who endorsed the legislation earlier this month.