The governor, on behalf of Louisiana, is authorized to enter into cooperative endeavor agreements with Alabama, Mississippi, and Texas for the public purpose of restoring and revitalizing the state.  However, prior to the governor exercising such authority, each such agreement shall have been presented to the legislature and shall have been approved by a majority of the elected members of each house of the legislature.  Such approval shall be provided by the adoption of a concurrent resolution by such vote if approval is sought during a time the legislature is in legislative session.  Such approval shall be provided by mail ballot using the same procedure for the distribution, return, and counting of such ballots as is provided for the ballots of the Interim Emergency Board if such approval is sought during a time when the legislature is not meeting in legislative session.  Such cooperative endeavor agreements may provide for the investment, pledge, use, or deposit of state funds and the guarantee by the state of certain financial obligations, or may otherwise obligate the state financially to achieve the goals set forth herein.  Such obligation shall be enforceable subject to the appropriation of requisite funds and upon a showing of reasonable expectations that the incurring of such obligation will result in restoring and revitalizing the state or will achieve other restoration and revitalizing goals that will equal or exceed the value of the obligations of the state required thereby. Notwithstanding any other provisions of law to the contrary, all cooperative endeavors sought to be entered into under the provisions of this Section shall receive approval by the Joint Legislative Committee on the Budget prior to their execution.

Acts 2006, No. 817, §1, eff. July 5, 2006.