Louisiana House Bill HB691

Louisiana 2020 Regular Session

• Introduced: 2/28/20
• Refer: 2/28/20
• Refer: 3/9/20
• Report Pass: 5/7/20
• Engrossed: 5/15/20
• Refer: 5/18/20
• Report Pass: 5/25/20
• Enrolled: 5/29/20
• Chaptered: 6/5/20
• Passed: 6/5/20

Caption

Reinstates the Brownfields Cleanup Revolving Loan Fund and program (EN INCREASE SD EX See Note)

Impact

With the enactment of HB 691, the state laws concerning brownfields remediation would be strengthened. The bill reinforces the legislature's commitment to facilitating the cleanup process, thereby potentially unlocking economic development opportunities and improving health outcomes for residents in areas with contaminated properties. Local governments and qualified non-profits would be empowered to access funding, crucial for initiating cleanup projects that might otherwise be financially unfeasible.

Summary

House Bill 691 aims to reinstate the Brownfields Cleanup Revolving Loan Fund and program, focusing on the cleanup and redevelopment of brownfields. By encouraging the remediation of these sites, the bill seeks to address public health risks posed by hazardous substances and enhance the aesthetic and economic value of affected locales. The restoration of the loan fund is significant as it would provide financial resources at or below market interest rates to local governments and qualified organizations assisting in brownfields cleanup initiatives.

Sentiment

The general sentiment surrounding HB 691 appears to be supportive, particularly among environmental advocates and local government representatives. It is viewed positively as a proactive step towards public health safety and as a means to foster economic growth via revitalized communities. There is hope that reinstating the fund will lead to tangible improvements in the safety and usability of brownfield sites, thus catalyzing development in neglected areas.

Contention

Notable points of contention may arise regarding the management and distribution of loan funds. There could be concerns about the prioritization of projects, especially how the department will determine eligibility for loans and enforce accountability in loan repayments. Furthermore, some stakeholders may raise questions about the potential risks associated with allowing more entities, such as non-profits, to access these funds.