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ACT No. 508
Regular Session, 2012
HOUSE BILL NO. 1043
BY REPRESENTATIVES HENRY BURNS, ADAMS, ARMES, BARROW,
BERTHELOT, WESLEY BISHOP, BROADWATER, BROWN, BURFORD,
BURRELL, CARMODY, CHAMPAGNE, CONNICK, COX, DIXON, EDWARDS,
FOIL, GISCLAIR, GUILLORY, GUINN, HARRISON, HAVARD, HENSGENS,
HILL, HODGES, HOWARD, HUNTER, KATRINA JACKSON, JEFFERSON,
JONES, NANCY LANDRY, LEBAS, LEGER, MACK, MILLER, MORENO,
NORTON, ORTEGO, PIERRE, POPE, PUGH, PYLANT, REYNOL DS,
SCHEXNAYDER, SIMON, SMITH, ST. GERMAIN, THIERRY, THOMPSON,
PATRICK WILLIAMS, AND WILLMOTT
AN ACT1
To amend and reenact R.S. 39:100.61(B), relative to the New Opportunities Waiver Fund;2
to provide for the deposit of monies into the New Opportunities Waiver Fund;3
provides for an effective date; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 39:100.61(B) is hereby amended and reenacted to read as follows:6
ยง100.61. New Opportunities Waiver Fund7
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B.(1) The source of monies in the fund shall be as follows:9
(a) In any fiscal year, the state treasurer is directed to deposit twelve percent10
of all recurring state general fund revenue, not to exceed fifty million dollars in any11
fiscal year, as recognized by the Revenue Estimating Conference in excess of the12
Official Forecast at the beginning of the current fiscal year into the New13
Opportunities Waiver Fund, and monies in the fund from this Subparagraph shall be14
used for appropriation in the ensuing fiscal year.15
(b) Monies designated for the fund and received by the state treasurer from16
donations, gifts, grants, appropriations, or other revenue.17
(2) Monies in the fund shall be invested in the same manner as monies in the18
state general fund. Interest earned on investment of monies in the fund shall be19 ENROLLEDHB NO. 1043
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credited to this fund. Unexpended and unencumbered monies in the fund at the end1
of the fiscal year shall remain in the fund.2
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Section 2. This Act shall become effective on July 1, 2012; if vetoed by the governor4
and subsequently approved by the legislature, this Act shall become effective on July 1,5
2012, or on the day following such approval by the legislature, whichever is later.6
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: