SLS 15RS-574 ORIGINAL
2015 Regular Session
SENATE BILL NO. 252
BY SENATOR DONAHUE
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
FUNDS/FUNDING. Provides for funds in the state treasury. (gov sig)
1 AN ACT
2 To enact R.S. 39:82.1 and 100.22, relative to special treasury funds and dedicated money;
3 to provide for specific reports to the Joint Legislative Committee on the Budget; to
4 provide for the review and reporting of special funds and dedicated money, including
5 the means of financing, specifically funds whose primary source of financing is the
6 state general fund, the purpose and use of the monies, and the status and balances of
7 the special funds and dedicated monies; to establish the 2016 Overcollections Fund
8 as a special fund in the state treasury; to provide for the transfer, dedication, use,
9 investment, and appropriation of monies in the fund; to provide for an effective date;
10 and to provide for related matters.
11 Be it enacted by the Legislature of Louisiana:
12 Section 1. R.S. 39:82.1 and 100.22 are hereby enacted to read as follows:
13 § 82.1. Reporting on special funds
14 A. Each year at the August meeting of the Joint Legislative Committee
15 on the Budget, the state treasurer shall submit information regarding the status
16 of fund transfers authorized to eliminate budget deficits, specifically those
17 transfers which reduced constitutionally protected funds or dedications which
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 252
SLS 15RS-574 ORIGINAL
1 were approved by the Joint Legislative Committee on the Budget to eliminate
2 budget deficits. The information shall include the date and amount of the
3 transfer, the balance of the fund immediately prior to the transfer and the
4 balance of the fund at year end.
5 B. The Joint Legislative Committee on the Budget may make such
6 studies and hold such hearings as it shall deem appropriate and necessary to
7 review special funds and dedications of money in the state treasury including
8 the means of financing, specifically those funds whose primary source of
9 funding is the state general fund, the purpose and use of the monies, and the
10 status and balances of the special funds and dedicated monies.
11 * * *
12 §100.22. 2016 Overcollections Fund
13 The 2016 Overcollections Fund, hereinafter referred to as the "fund",
14 is hereby created in the state treasury. The source of monies deposited into the
15 fund shall be any money appropriated by the legislature including donations,
16 gifts, grants, or other monies as may be provided by law. The money in the fund
17 shall be invested in the same manner as monies in the state general fund.
18 Interest earned on the investment of monies in the fund shall be deposited in
19 and credited to the state general fund. Monies in the fund shall be appropriated
20 and expended to support fiscal initiatives as provided by law. All unexpended
21 and unencumbered monies in the fund at the end of the fiscal year shall remain
22 in the fund.
23 Section 2. This Act shall become effective upon signature by the governor or, if not
24 signed by the governor, upon expiration of the time for bills to become law without signature
25 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
26 vetoed by the governor and subsequently approved by the legislature, this Act shall become
27 effective on the day following such approval.
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 252
SLS 15RS-574 ORIGINAL
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Martha S. Hess.
DIGEST
SB 252 Original 2015 Regular Session Donahue
Proposed law provides for the reporting on special funds. Provides that each year the state
treasurer shall submit at the August meeting of the Joint Legislative Committee on the
Budget (JLCB) the status of fund transfers authorized to eliminate budget deficits,
specifically transfers which reduced constitutionally protected funds or dedications which
were approved by the JLCB to eliminate budget deficits. The information shall include the
date and amount of the transfer, the balance of the fund immediately prior to the transfer and
the balance of the fund at year end.
Proposed law further provides that the JLCB may make such studies and hold such hearings
as it shall deem appropriate and necessary to review special funds and dedications of money
in the state treasury including the means of financing, specifically those funds whose
primary means of financing is the state general fund, the purpose and use of the monies, and
the status and balances of the special funds and dedicated monies.
Proposed law establishes the 2016 Overcollections Fund as a special treasury fund. Provides
that any money appropriated or transferred to the fund shall be deposited into the fund.
Provides monies in the fund shall be invested in the same manner as monies in the state
general fund and interest earned on the investment of monies in the fund shall be deposited
in and credited to the state general fund. Unexpended and unencumbered monies in the fund
at the end of the fiscal year shall remain in the fund.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 39:82.1 and 100.22)
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.