LOCAL FINANCE: Provides that certain non-debt-forming concession agreements and other obligations are not deemed as debt requiring approval of the State Bond Commission (RE1 +$129,000 GF EX See Note)

This bill creates a new legal framework allowing Louisiana public entities to enter into concession agreements with private companies for infrastructure services without needing prior approval from the State Bond Commission. To qualify for this exemption, the public entity must demonstrate financial stability through recent audits, and the agreement must include specific protections such as a nonappropriation clause that allows termination without penalty if funds are unavailable. The Attorney General is required to review and certify that these agreements do not constitute long-term debt, while the public entity must still ensure the service is needed and the cost is reasonable. Additionally, the bill clarifies that if an agreement does create a long-term liability, it must still be submitted to the State Bond Commission for review.