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HB 332

AGRICULTURE: Provides with respect to meetings of the Louisiana Agricultural Finance Authority

2026 Regular Session Introduced by Chris Turner

HB 332 lowers the Louisiana Agricultural Finance Authority’s minimum annual meetings from four to two.

Effective date: 05/11/2026.
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Bill Summary · HB 332

Summary of HB 332 (2026) – Louisiana

Overview

  • Jurisdiction: Louisiana
  • Agency: Louisiana Agricultural Finance Authority (LAF Authority)
  • Bill: HB 332
  • Session: 2026 Regular Session
  • Sponsor: Representative Turner (Co-sponsor: Chris Turner)
  • Status: Passed both chambers; effective upon governor’s signature or constitutional after-action timing

Purpose and Intent

  • The bill changes the mandated minimum frequency of meetings for the Louisiana Agricultural Finance Authority.
  • Specifically, it reduces the minimum required meetings per year from four to two.

Key Provisions

  • Amendment to Law: Amends and reenacts R.S. 3:264(H) concerning the LAF Authority.
  • Meeting Requirements (Section H):
    • Current law: The Authority must meet at least four times and no more than twelve times per year, upon call.
    • New law (HB 332): The Authority must meet at least two times per year, and no fewer than two or more than twelve times per year upon call (the “four” minimum is reduced to “two” minimum).
  • Effective Date: The act becomes effective upon:
    • Signature by the governor, or
    • If not signed, the lapse of time for gubernatorial action as provided by the Louisiana Constitution (Article III, Section 18),
    • If vetoed but subsequently approved by the legislature, the act becomes effective the day after such approval.

Who/What Is Affected

  • Affected Entity: Louisiana Agricultural Finance Authority
  • Impact: Governing statute now requires fewer mandatory annual meetings (minimum of 2 instead of 4). This could affect scheduling expectations, administrative planning, and meeting cadence for Authority activities.

Procedural and Timeline Details

  • Process Timeline:
    • Passed the House (indicated in the bill history)
    • Sent to the Senate, with standard legislative process timelines observed
    • Notable action history:
    • Reported favorably in committee
    • Passed both chambers in April 2026
  • Effective Date Clarification: The standard gubernatorial action framework applies; if vetoed, legislative approval would trigger effectiveness on the day after approval.

Practical Considerations

  • The change lowers the minimum mandated meeting frequency, potentially increasing flexibility for the Authority in scheduling and administration.
  • Depending on workload, program launches, or financing needs, the Authority may still opt to meet more frequently than the minimum if required for projects or governance.

Bottom Line

HB 332 amends the Louisiana Agricultural Finance Authority’s meeting frequency requirement, reducing the minimum from four to two meetings per year. It takes effect upon governor’s signature or constitutional alternative timing, with similar veto-provision language if applicable.

Compiled from official sources — confirm details with the bill’s official record.

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