NOTE: This provision of law was included in the Unconstitutional Statutes Biennial Report to the Legislature, dated March 14, 2016.

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Terms Used In Louisiana Revised Statutes 39:1954

  • Amortization: Paying off a loan by regular installments.

           A. This Chapter applies to all public works and procurement of goods and services by state agencies and educational institutions. This Chapter does not apply to state agency or educational institution expenditures other than contracts for public works and for the procurement of goods and services for state agencies or educational institutions, such as amortization, debt service, depreciation, employee benefits, per diem, relocation expenses, salaries, postage, and transfers of charges. Each state agency and educational institution shall comply with the overall annual goals established for that state agency or educational institution under this Chapter for public works and procuring goods or services.

           B. The commissioner of administration shall provide for utilization of standard clauses by state agencies and educational institutions in requests for proposals, advertisements, bids, or calls for bids, as necessary to carry out the purposes of this Chapter, which shall include notice of the statutory penalties under the provisions of this Chapter.

           Acts 1984, No. 653, §1, eff. July 1, 1984; Acts 1992, No. 797, §2, eff. July 1, 1992.