HLS 15RS-1274 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 634
BY REPRESENTATIVE LAMBERT
FUNDS/FUNDING: Dedicates mineral revenue in excess of the amount required to be
deposited into the Budget Stabilization Fund to the Transportation Trust Fund
1 AN ACT
2To enact R.S. 48:77.1, relative to special treasury funds; to dedicate certain mineral revenues
3 to the Transportation Trust Fund; and to provide for related matters.
4Be it enacted by the Legislature of Louisiana:
5 Section 1. R.S. 48:77.1 is hereby enacted to read as follows:
6 ยง77.1. Transportation Trust Fund; dedication of mineral revenues
7 "Mineral revenues" in excess of the "base" which would otherwise be
8 deposited into the Budget Stabilization Fund under R.S. 39:94(A)(2), but are
9 prohibited from being deposited into the fund under R.S. 39:94(C)(4)(a), shall be
10 deposited into the Transportation Trust Fund.
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 634 Original 2015 Regular Session Lambert
Abstract: Deposits excess mineral revenue into the Transportation Trust Fund when the
Budget Stabilization Fund has reached its capacity.
Present law (R.S. 39:94(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
under present law is $850 million.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-1274 ORIGINAL
HB NO. 634
Present law (R.S. 39:94(C)(4)(a)) 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. State revenue receipts do not include monies from
FEMA or other sources providing disaster relief assistance.
Proposed law 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 law.
(Adds R.S. 48:77.1)
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.