Louisiana House Bill HB408

Louisiana 2014 Regular Session

• Introduced: 3/10/14
• Refer: 3/10/14
• Report Pass: 4/9/14
• Refer: 4/23/14

Caption

Provides for audits of certain coastal restoration projects (EG INCREASE SG EX See Note)

Impact

The introduction of HB 408 is expected to significantly impact state laws governing the oversight of public funds allocated for coastal restoration. It requires the adoption of guidelines for audits by independent certified public accountants, making it mandatory for entities utilizing these funds to maintain rigorous financial accountability. This measure aims not only at safeguarding the integrity of expenditure but also at facilitating compliance with both state and federal regulations governing such financial activities. The implications could streamline funding processes while also elevating the standards of financial governance in environmental restoration efforts.

Summary

House Bill 408 aims to establish comprehensive auditing procedures for projects related to the Deepwater Horizon oil spill. This is achieved by authorizing the legislative auditor to examine the financial transactions of state, local, or quasi-public entities that receive or expend funds linked to the oil spill. The bill specifically aligns with the requirements of the RESTORE Act, which dedicates federal resources for the revival of Gulf Coast economies affected by the disaster. By enabling these audits, the legislation seeks to ensure transparency and accountability in the utilization of such funds.

Sentiment

The sentiment around HB 408 appears to be generally positive, particularly among proponents who view it as a crucial step towards ensuring that funds allocated for coastal restoration are managed effectively. Supporters include various stakeholders concerned about the need for stringent oversight and transparency in handling funds derived from the aftermath of the Deepwater Horizon disaster. However, there are underlying concerns from some quarters regarding the potential bureaucratic complexities that may arise from implementing these auditing measures.

Contention

Notable points of contention may arise regarding the costs associated with the mandated audits, which will be funded through a portion of the grants designated for administrative expenses. Critics may argue that these expenses could divert funds from actual restoration projects, thus impacting their effectiveness. Furthermore, the requirement for the Coastal Protection and Restoration Authority Board to certify land use plans in accordance with federal regulations may also lead to debates about local vs. federal oversight in the management of coastal resources.