7/13/07-Gov. Kathleen Blanco has signed a bill into law that directs $15 million annually from unclaimed property funds in the state to an account for work on the north and south portions of I-49.
The new law, previously HB531, would split the funds evenly to the north and south portions of I-49. The stretches run north from Interstate 20 in Shreveport to the Arkansas line and south from Interstate 10 in Lafayette to the West Bank Expressway in New Orleans.
The money can be used to match with federal funds or be bonded for construction purposes.
6/28/07-The House and Senate have approved a bill that would direct $15 million from unclaimed property funds in the state to an account for work on the north and south portions of Interstate 49. The bill now heads to Gov. Kathleen Blanco's desk.
Under HB531, all money would be split evenly to the north and south portions of I-49. Those stretches run north from Interstate 20 in Shreveport to the Arkansas line and south from Interstate 10 in Lafayette to the West Bank Expressway in New Orleans.
The bill would allow the money to be used to match with federal funds or be bonded for construction purposes.
A provision dropped from the bill in the Senate called for a one-time diversion of $30 million from the state's general fund to the unclaimed property fund.
For bill status, call (225) 342-2456. In Louisiana, call 1-800-256-3793.
5/31/07-A bill in the Senate Finance Committee would supply funds to complete the state's portion of Interstate 49. The House already approved it.
Sponsored by Rep. Billy Montgomery, R-Haughton, HB531 calls for using $15 million annually from unclaimed property funds in the state. A one-time diversion of $30 million from the state's general fund also would be routed to the unclaimed property fund.
Unclaimed property funds are turned over to the state by businesses when the rightful private owners cannot be found.
All money would be split evenly to the north and south portions of I-49. Those stretches run north from Interstate 20 in Shreveport to the Arkansas line and south from Interstate 10 in Lafayette to the West Bank Expressway in New Orleans.
The bill would allow the Louisiana Transportation Authority to appropriate the money as needed for construction.
It would allow the money to be used to match with federal funds or be bonded for construction purposes.
For bill status, call (225) 342-2456. In Louisiana, call 1-800-256-3793.
5/22/07-The House approved a bill that would supply funds to complete the state's portion of Interstate 49. It's been forwarded to the Senate for further consideration.
Sponsored by Rep. Billy Montgomery, R-Haughton, HB531 calls for using $15 million annually from unclaimed property funds in the state. A one-time diversion of $30 million from the state's general fund also would be routed to the unclaimed property fund.
Unclaimed property funds are turned over to the state by businesses when the rightful private owners cannot be found.
All money would be split evenly to the north and south portions of I-49. Those stretches run north from Interstate 20 in Shreveport to the Arkansas line and south from Interstate 10 in Lafayette to the West Bank Expressway in New Orleans.
The bill would allow the Louisiana Transportation Authority to appropriate the money as needed for construction.
It would allow the money to be used to match with federal funds or be bonded for construction purposes.
The bill is awaiting assignment to committee in the Senate.
For bill status, call (225) 342-2456. In Louisiana, call 1-800-256-3793.
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