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))