A.  The legislature hereby finds and declares that the development, construction, improvement, expansion, and maintenance of an efficient, safe, and well-maintained intermodal transportation system is essential to promote Louisiana’s economic growth and the ability of business and industry to compete in regional, national, and global markets and to provide a high quality of life for the people of this state.

B.  Public revenue, including federal funds, has not kept pace with the state’s growing transportation system needs.  The legislature hereby finds and declares that it is a matter of public necessity to create the Louisiana Transportation Authority, to pursue alternative and innovative funding sources, including but not limited to public/private partnerships, tolls, and unclaimed property bonds to supplement public revenue sources and to improve Louisiana’s transportation system.

C.  The legislature hereby finds and declares that it is a matter of public necessity to authorize the Louisiana Transportation Authority to pursue public-private partnerships to supplement public revenue sources and to pursue alternative and innovative funding sources, including user fees to improve Louisiana’s transportation system.  Further, the legislature finds that authorizing the Louisiana Transportation Authority to contract with private entities for the development or operation of transportation facilities will provide significant public benefit for the citizens of Louisiana by making additional transportation facilities available to the public and minimizing the need for the imposition of additional taxes.  The legislature additionally finds that authorizing private entities to develop or operate transportation facilities will result in the construction of transportation facilities more quickly at reduced costs, thereby benefitting the public safety and welfare of the citizens of Louisiana.  The public need for timely and cost-efficient development or operation of transportation facilities within the state may not be wholly satisfied by existing methods utilized by public entities to develop and operate qualifying transportation facilities.

D.  It is the intent of this Chapter to encourage investment in the state of Louisiana by private entities and to facilitate to the greatest extent feasible the financing, development, and operation of transportation facilities.

Acts 2001, No. 1209, §2; Acts 2005, No. 256, §2, eff. June 29, 2005; Acts 2006, No. 304, §1.