BATON ROUGE, La. (BRPROUD) – Governor John Bel Edwards signed a bill into law that will allocate millions more dollars a year into a construction subfund for infrastructure projects.
HB514 by Representative Tanner Magee will take 75% of the vehicle tax revenue and allocate the estimated $300 million a year to the fund only used for construction. The state has about $14 billion worth of backlogged infrastructure projects the money can be used for.
The Governor had some concerns around the bill since the vehicle tax revenue is used to fund other departments in the state. The money won’t be shifted over until 2025, which is the same year the temporary .45% sales tax is set to sunset.
Some projects outlined to be funded by the tax revenue include a new bridge over the Mississippi River and widening of I-10 to three lanes from LA 30 to LA 22. The Baton Rouge Area Chamber released this statement in support of the signing of the bill:
“For the first time in decades, the state of Louisiana is making a serious, long-term investment in its infrastructure. BRAC congratulates the state legislature for working together on this bipartisan bill, and the governor for signing it into law. We know that our infrastructure funding has been severely lacking, leading to unprecedented maintenance backlogs and no resources for future-oriented projects. With this rededication of dollars, Louisiana can begin to build back its infrastructure to compete for the jobs and talent that depend on it.”