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SB 518

PUBLIC LANDS: Allows Louisiana State University and Agricultural & Mechanical College to buy and sell certain real estate. (8/1/26)

2026 Regular Session Introduced by Franklin Foil

LSU–BR may buy, sell, or exchange immovable property within East Baton Rouge Parish near existing LSU–BR sites, under market-value safeguards and five-day notice to the State Land

Sent to the Governor by the Secretary of the Senate.
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Bill Summary · SB 518

Summary of Bill SB 518 (2026, Louisiana)

Purpose and Intent

  • Expands land transaction authority for LSU–Baton Rouge (Louisiana State University and Agricultural & Mechanical College) specifically for immovable property.
  • Adds a targeted exception to existing state procedures governing transfer and management of state-owned real estate.
  • Effective date: August 1, 2026.

Key Provisions

Background

  • Under current law, surplus immovable property typically transfers to the Division of Administration, with the Commissioner of Administration handling state lands and facilities and serving as a key participant in real estate transactions.

What SB 518 Changes

  • Retains the general authority for postsecondary education management boards to buy, sell, transfer, or exchange property.
  • Adds a specific authorization for LSU–BR’s Board of Supervisors to buy, sell, transfer, or exchange immovable property on behalf of LSU–BR, but only under strict geographic and value conditions:
    • Location: The property must be entirely within East Baton Rouge Parish (EBR).
    • Proximity: The property must be within 1.5 miles of another LSU–BR property.
    • Consideration (Acquisitions): Purchase price cannot exceed the appraised fair market value.
    • Consideration (Disposals): Sale price cannot be less than the appraised fair market value.
    • Notice: The board must provide written notice of any sale, transfer, or exchange to the State Land Office within five business days of the transaction.
    • Ratification: Any sale/transfer/exchange previously conducted under the law prior to the effective date is ratified under the new provisions.

Application Context

  • The changes appear to be tailored to facilitate more flexible internal real estate management for LSU–BR, within a narrow geographic footprint and with safeguards to ensure fair market value and transparency.

Who is Affected

  • Primary: LSU–BR Board of Supervisors, as the governing body authorized to manage certain property transactions for LSU–BR.
  • Secondary: State land management processes and oversight bodies, including the State Land Office (notified within five business days) and the Division of Administration in standard real estate workflows for state lands.

Procedural and Timeline Aspects

  • Effective Date: August 1, 2026.
  • The bill requires written notice to the State Land Office within five business days of any covered transaction.
  • Also provides for ratification of prior transactions that occurred under the new framework once the bill becomes law.

Notable Details

  • The bill amends and reenacts R.S. 17:3351(A)(9) to codify these specific authorities and conditions.
  • Emphasizes fair market value considerations in both acquisition and disposition scenarios.
  • Establishes a tight geographic and proximity cap to ensure transactions stay within the LSU–BR property ecosystem in East Baton Rouge Parish.

Overall Impact

  • Provides LSU–BR with a streamlined, campus-centered mechanism to manage real estate within a defined area, subject to market-value protections and rapid-notice requirements.
  • Maintains statewide oversight through existing land management structures, preserving transparency and compliance with statutory valuation standards.

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

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