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 77 Original 2016 First Extraordinary Session Amedee
Abstract: Creates the Payment Towards State Debt Fund and allows the fund to be appropriated
for certain UAL payments and debt defeasance.
Proposed law creates the Payments Towards State Debt Fund (the fund) as a special treasury fund,
to be funded by grants, donations, and legislative appropriations.
Proposed law provides for the following uses of the fund:
(1)At least 25% be appropriated for the Budget Stabilization Fund, unless deposits into the fund
are prohibited.
(2)At least 10% to pay the balance of the unfunded accrued liability (UAL) of La. State
Employees' Retirement System (LASERS) and the Teachers' Retirement System of Louisiana
(TRSL) as of June 30,1988.
(3)The remainder to be appropriated for retiring or defeasing debt.
Effective July 1, 2016.
(Adds R.S. 39:100.111)