The original instrument was prepared by Jay R. Lueckel. The following digest, which
does not constitute a part of the legislative instrument, was prepared by Kari B.
Couvillon.
DIGEST
SB 202 Engrossed 2015 Regular Session Adley
Present constitution establishes the Budget Stabilization Fund in the state treasury. Proposed
constitutional amendment changes name of the fund from the Budget Stabilization Fund to the
Budget and Transportation Stabilization Trust (the Trust) in constitution.
Present constitution provides for deposits of mineral revenues in the Budget Stabilization Fund in
excess of the base and authorizes the base to be increased every ten years by a law enacted by two-
thirds of the elected members of each house of the legislature. Proposed constitutional amendment
retains present constitution except changes the time period for the base to be increased from ten years
to five years.
Proposed constitutional amendment creates the Budget Stabilization Subfund and the Transportation
Stabilization Subfund in the Budget and Transportation Stabilization Trust and provides that at the
beginning of each fiscal year, mineral revenues shall be allocated and deposited into the subfunds
as follows:
(1)Beginning in Fiscal Year 2015-2016, mineral revenues in excess of the base shall be
deposited in the Budget Stabilization Subfund until the balance in the fund equals and shall
be maintained in the amount of $500 million.
(2) Once the balance in the Budget Stabilization Subfund equals $500 million, mineral revenues
shall be deposited into the Transportation Stabilization Subfund at the beginning of the next
fiscal year until the balance in the Transportation Stabilization Subfund equals and shall be
maintained in the amount of $500 million. Thereafter, any excess mineral revenues shall be
deposited into the state general fund. The legislature may appropriate additional monies into
either the Budget Stabilization Subfund or the Transportation Stabilization Subfund.
Proposed constitutional amendment provides that monies in the Transportation Stabilization
Subfund shall be appropriated by the legislature and used solely and exclusively for planning,
design, construction, and maintenance connected with the state highway program. In the
event that a state infrastructure bank is established by law in the Transportation Trust
Subfund, an amount not to exceed $50 million may be transferred to the Transportation Trust
Subfund to be used for the capitalization of the state infrastructure bank.
(3)No deposit of mineral revenues shall be made in any fiscal year in which money in the fund
is appropriated for use or incorporated into the official forecast or in the ensuing fiscal year,
except by specific appropriation by the legislature. Present constitution establishes the Transportation Trust Fund and provides that the monies in the
trust fund shall be appropriated or dedicated solely and exclusively for the costs for and associated
with construction and maintenance of the roads and bridges of the state and federal highway systems,
the Statewide Flood-Control Program, or its successor, ports, airports, transit, state police for traffic
control purposes, and the Parish Transportation Fund, or its successor, and the payment of bonds
secured by the trust fund.
Proposed constitutional amendment retains present constitution except it provides that if monies are
transferred to the Transportation Trust Fund from the Transportation Stabilization Subfund in the
Budget and Transportation Stabilization Trust, such monies shall be expended and used solely for
the capitalization of the state infrastructure bank, and shall not be used for any other purpose
including state police for traffic control purposes.
Specifies submission of the amendment to the electors of the state of Louisiana at the statewide
election to be held on October 24, 2015.
(Amends Const. Art. VII, Sec. 10(D)(2)(d), 10.3(A)(intro para) and (A)(2)(a) and (b), 10.5(B), and
27(A); adds Art VII, Sec. 10.3(A)(2)(c))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Finance to the original bill
1. Specifies that the balance of the Budget Stabilization Subfund shall be maintained
in the amount of $500 million.
2. Specifies that the balance of the Transportation Stabilization Subfund shall be
maintained in the amount of $500 million.