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 81 Original 2015 Regular Session Carmody
Abstract: Raises the mineral revenue base used to determine when mineral revenues are deposited
into the Budget Stabilization Fund from $850 M to $940,715,000 and dedicates the
difference between the old base and new base to transportation and higher education.
Present constitution establishes the Budget Stabilization Fund (the BSF) and determines the revenues
to be deposited into the fund. Requires mineral revenues over a "base amount" to be deposited into
the BSF. Sets the base amount and allows the base amount to be increased every 10 years beginning
in 2000 by law enacted by a two-thirds vote of the legislature. Base amount increases are limited
to 50% of the aggregate of the consumer price index (CPI) for the last 10 years.
Present law sets the "base amount" at $850 M and allows the base to be increased beginning in 2014.
Proposed law increases the "base amount" from $850 M to $940,715,000 and allows the base to be
increased every 10 years beginning in 2025.
Proposed law dedicates the difference between $850 M and the new "base amount" into a special
fund created in the state treasury to be known as the Better Highways and Higher Education Fund.
The money in the fund is required to be appropriated by the legislature each fiscal year to be used
solely as follows:
(1)50% to the Transportation Trust Fund for the costs of construction or maintenance of projects
in the Highway Priority Program.
(2)50% to the higher education management boards, their respective institutions, LUMCON,
and the Office of Student Financial Assistance in amounts and for purposes specified in a
plan and formula for the distribution of these funds as approved by the Board of Regents
pursuant to present constitution.
(Amends R.S. 39:94(A)(2)(a)(intro. para.) and (b); Adds R.S. 39:100.141)