The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Jay R. Lueckel.
DIGEST
SB 160 Original 2015 Regular Session Chabert
Present law provides for limitations on appropriations and specifically provides for the appropriation
of any money designated in the official forecast as nonrecurring.
Present law provides for spending nonrecurring monies as follows:
(1)At a minimum, twenty-five percent of nonrecurring revenue shall be appropriated for deposit
in the Budget Stabilization Fund.
(2)Providing for payments against the unfunded accrued liability of the public retirement
systems which are in addition to any payments required for the annual amortization of the
unfunded accrued liability of the public retirement systems.
(3)The remainder may be appropriated only for the following purposes:
(a)Retiring or defeasance of bonds in advance and in addition to the existing
amortization requirements of the state.
(b)Providing funding for capital outlay projects in the comprehensive state budget.
(c)Providing for allocation or appropriation for deposit into the Coastal Protection and
Restoration Fund established in Article VII, Section 10.2 of the Constitution of
Louisiana.
(d)Providing for new highway construction for which federal matching funds are
available, without excluding highway projects otherwise eligible as capital projects
under other provisions of law.
Proposed law retains present law except as it applies to new highway construction for which federal
matching funds are available. Proposed law adds new language relative to the highway construction
provisions which requires that at a minimum, fifteen percent of nonrecurring revenues shall be
appropriated for new highway construction for which federal matching funds are available. The
existing highway construction language in present law is deleted.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 39:54(B)(3); adds R.S. 39:54(B)(4))