HLS 15RS-1255 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 525
BY REPRESENTATIVE LAMBERT
FUNDS/FUNDING: (Constitutional Amendment) Dedicates mineral revenue in excess of
the amount required to be deposited into the Budget Stabilization Fund into the
Transportation Trust Fund
1 A JOINT RESOLUTION
2Proposing to add Article VII, Section 27(F) of the Constitution of Louisiana, relative to
3 special funds; to dedicate certain mineral revenues to the Transportation Trust Fund;
4 to provide for submission of the proposed amendment to the electors; and to provide
5 for related matters.
6 Section 1. Be it resolved by the Legislature of Louisiana, two-thirds of the members
7elected to each house concurring, that there shall be submitted to the electors of the state of
8Louisiana, for their approval or rejection in the manner provided by law, a proposal to
9amend Article VII, Section 27(F) of the Constitution of Louisiana, to read as follows:
10 §27. Transportation Trust Fund
11 Section 27.
12 * * *
13 (F) Additional revenues. Mineral revenues in excess of the base which
14 would otherwise be deposited into the Budget Stabilization Fund under Article VII,
15 Section 10.3(A)(2), but are prohibited from being deposited into the fund under
16 Article VII, Section 10.3(C)(4), shall be deposited into the Transportation Trust
17 Fund.
18 Section 2. Be it further resolved that this proposed amendment shall be submitted
19to the electors of the state of Louisiana at the statewide election to be held on October 24,
202015.
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-1255 ORIGINAL
HB NO. 525
1 Section 3. Be it further resolved that on the official ballot to be used at the election,
2there shall be printed a proposition, upon which the electors of the state shall be permitted
3to vote YES or NO, to amend the Constitution of Louisiana, which proposition shall read as
4follows:
5 Do you support an amendment to require excess mineral revenues which
6 would otherwise be deposited into the state general fund once the Budget
7 Stabilization Fund is at capacity be dedicated to the Transportation Trust
8 Fund?
9 (Adds Article VII, Section 27(F))
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)]
HB 525 Original 2015 Regular Session Lambert
Abstract: Deposits excess mineral revenue into the Transportation Trust Fund when the
Budget Stabilization Fund has reached its constitutional capacity.
Present constitution (Const. Art. VII, §10.3(A)(2)) requires certain mineral revenue over a
base amount be deposited into the Budget Stabilization Fund. Mineral revenue includes
severance taxes, royalty payments, bonus payments, or rentals, and excludes nonrecurring
revenues and revenues derived from any tax on the transportation of minerals. The current
base amount by law is $850 million.
Present constitution (Const. Art. VII, §10.3(C)(4)) prohibits deposits into the Budget
Stabilization Fund if such deposit would cause the balance of the fund to exceed 4% of the
total state revenue receipts for the previous fiscal year.
Proposed constitutional amendment requires mineral revenue over the base amount to be
deposited into the Transportation Trust Fund if deposits into the Budget Stabilization Fund
are prohibited under present constitution.
Provides for submission of the proposed amendment to the voters at the statewide election
to be held Oct. 24, 2015.
(Adds Const. Art VII, §27(F))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.