Page 1 of 3
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2011 ENROLLED
SENATE BILL NO. 147
BY SENATORS CHAISSON AND JACKSON
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
A JOINT RESOLUTION1
Proposing to add Article VII, Section 10.3(C)(5) of the Constitution of Louisiana, relative2
to the Budget Stabilization Fund; to provide for deposits into the Budget3
Stabilization Fund in certain circumstances; to provide for the interruption of4
deposits into the Budget Stabilization Fund in certain circumstances; and to specify5
an election for submission of the proposition to electors and provide a ballot6
proposition.7
Section 1. Be it resolved by the Legislature of Louisiana, two-thirds of the members8
elected to each house concurring, that there shall be submitted to the electors of the state, for9
their approval or rejection in the manner provided by law, a proposal to add Article VII,10
Section 10.3(C)(5) of the Constitution of Louisiana, to read as follows:11
ARTICLE VII12
ยง10.3. Budget Stabilization Fund13
Section 10.3.14
* * *15
(C) The money in the fund shall not be available for appropriation or use16
except under the following conditions:17
* * *18
(5)(a) If at any time mineral revenues exceed the base as provided in19
Subsubparagraphs (A)(2)(a) and (b), and monies in the fund are made available20
for appropriation or use as provided in Paragraph (C), no deposit of mineral21
revenues, except those deposits into the fund for such purposes included in the22
official forecast of the Revenue Estimating Conference, shall be made as23
provided in Subsubparagraph (A)(2)(a) in the fiscal year for which money in the24
fund is appropriated or for which money in the fund is incorporated into the25
ACT No. 424 SB NO. 147 ENROLLED
Page 2 of 3
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
official forecast nor for the ensuing fiscal year, except by specific appropriation1
by the legislature. Thereafter, deposits of mineral revenues shall resume as2
provided in Subsubparagraph (A)(2)(a) except in an annual amount not to3
exceed one-third of the most recent amount made available for appropriation4
or use as provided in this Paragraph for the next three years after the ensuing5
year, until either the balance in the fund equals the maximum as provided in6
Subparagraph (C)(4) or an amount equal to the amount made available for7
appropriation or use is deposited into the fund, whichever is less. Amounts8
which are not deposited into the fund in one fiscal year as provided in this9
Subparagraph shall be deposited into the fund in the subsequent fiscal year10
until the amount withdrawn or used is satisfied or until the balance in the fund11
reaches the maximum as provided in Subparagraph (C)(4). The resumption of12
these deposits shall not cease because of a subsequent withdrawal from the fund.13
(b) Except as provided in Subsubparagraph (C)(5)(a) of this Paragraph,14
in the fiscal year for which money in the fund is appropriated or incorporated15
into the official forecast or for the ensuing fiscal year, deposits to the fund shall16
be made as provided in Paragraph (A) of this Section.17
Section 2. Be it further resolved that this proposed amendment shall be submitted18
to the electors of the state of Louisiana at the statewide election to be held on October 22,19
2011.20
Section 3. Be it further resolved that on the official ballot to be used at said election21
there shall be printed a proposition, upon which the electors of the state shall be permitted22
to vote FOR or AGAINST, to amend the Constitution of Louisiana, which proposition shall23
read as follows:24
To provide that if at any time mineral revenues exceed the base provided by25
law and monies are withdrawn from the Budget Stabilization Fund, no26
deposit of mineral revenues shall be made to the Budget Stabilization Fund27
in the same or ensuing fiscal year in which monies in the fund are28
appropriated or incorporated into the official forecast, except by specific29
legislative appropriation, and thereafter deposits of mineral revenues into the30 SB NO. 147 ENROLLED
Page 3 of 3
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
fund shall resume except in an annual amount not to exceed one-third of the1
most recent amount appropriated or incorporated into the official forecast.2
(Adds Article VII, Section 10.3(C)(5))3
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES