HLS 12RS-144 ORIGINAL
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2012
HOUSE BILL NO. 550
BY REPRESENTATIVE GEYMANN
BUDGETARY CONTROLS: Limits the growth in the expenditure limit
AN ACT1
To amend and reenact R.S. 39:33.1(B)(2), relative to the expenditure limit; to limit the2
growth factor used to determine the expenditure limit; to provide for effectiveness;3
and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 39:33.1(B)(2) is hereby amended and reenacted to read as follows:6
ยง33.1. Determination of expenditure limit7
* * *8
B.(1)9
* * *10
(2) The growth factor is defined as the average annual percentage rate of11
change of personal income for Louisiana as defined and reported by the United12
States Department of Commerce, or its successor agency, for the three calendar years13
prior to the fiscal year for which the limit is calculated. For Fiscal Year 2013-201414
and each fiscal year thereafter, the growth factor shall not exceed six percent.15
* * *16
Section 2. This Act shall take effect and become operative if and when the proposed17
amendment of Article VII, Section 10(C)(1) of the Constitution of Louisiana contained in18
the Act which originated as House Bill No. _____ of this 2012 Regular Session of the19
Legislature is adopted at a statewide election and becomes effective.20 HLS 12RS-144 ORIGINAL
HB NO. 550
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Geymann HB No. 550
Abstract: Caps the expenditure limit growth factor at 6%.
Present law provides for an annual expenditure limit and provides that the next fiscal year's
limit shall not exceed the expenditure limit for the current fiscal year plus an amount equal
to the growth factor if the growth factor is positive.
Proposed law provides that the growth factor shall not exceed 6%.
Effective if and when the proposed amendment of Article VII, Section 10(C)(1) of the
Constitution of La. contained in the Act which originated as House Bill No. of this 2012
R.S. is adopted at the statewide election to be held on Nov. 6, 2012, and becomes effective.
(Amends R.S. 39:33.1(B)(2))