The original instrument was prepared by Jay Lueckel. The following digest, which
does not constitute a part of the legislative instrument, was prepared by Linda
Nugent.
DIGEST
SB 202 Reengrossed 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 it changes the time period for the base to be increased, beginning
in 2014, 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, provided
that at least 20% of the funds appropriated from the Transportation Stabilization Subfund
shall be used only for the Louisiana Intermodal Connector Program within DOTD.
(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.
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)(intro para) and (b), and
10.5(B); 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.
Summary of Amendments Adopted by Senate
Senate Floor Amendments to engrossed bill
1. Deletes requirement to fund a state infrastructure bank from monies appropriated
from the Transportation Stabilization Subfund.
2. Requires that at least 20% of monies appropriated from the Transportation
Stabilization Subfund be used for the Louisiana Intermodal Connector Program
within DOTD.
3. Technical amendments.