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 86 Original 2016 First Extraordinary Session Leger
Abstract: Creates the Revenue Stabilization Trust Fund as a special treasury trust fund and deposits
into the fund mineral revenues and corporate income revenues.
Proposed law establishes the Mineral Revenue Stabilization Trust Fund as a special treasury trust
fund.
Proposed law deposits into the fund mineral revenues between $650 million and $950 million
received during the fiscal year. Further excludes the deposit into the fund of mineral revenues
required under present constitution and present law, as follows:
(1)The Bond Security and Redemption Fund.
(2)Severance tax and royalty payments to the political subdivisions of the state.
(3)The Louisiana Wildlife and Fisheries Conservation Fund.
(4)The Oil and Gas Regulatory Fund.
(5)The Rockefeller Wildlife Refuge Trust and Protection Fund.
(6)The Marsh Island Operating Fund and the Russell Sage or Marsh Island Refuge
Fund.
(7)The MC Davis Conservation Fund.
(8)The White Lake Property Fund.
(9)The Louisiana Education Quality Trust Fund (the 8g Fund).
(10)The Coastal Protection and Restoration Fund.
(11)The Mineral Revenue Audit and Settlement Fund.
(12)The Budget Stabilization Fund.
(13)An amount equal to the state general fund deposited into the Transportation Trust Fund and the Transportation Infrastructure Bank Fund.
Proposed law deposits into the fund corporate income and franchise tax revenues over $500 million
received during the fiscal year.
Proposed law authorizes investment of the money in the fund in the same manner as investments of
the Millennium Trust as provided for in present law.
Proposed law deposits into the state general fund all interest and other income earned on investments
of the fund.
Proposed law prohibits any appropriations from the fund, with an exception for any fiscal year in
which the balance of the fund at the beginning of the year is in excess of $10 billion, the legislature
may appropriate an amount not to exceed 5% of the fund balance for the same purposes as money
designated in the official forecast as nonrecurring pursuant to present constitution. Those uses
include:
(1)Retiring or for the defeasance of debt.
(2)Payments against the unfunded accrued liability of the public retirement systems.
(3)Capital outlay projects in the comprehensive state capital budget.
(4)Deposits into the Budget Stabilization Fund.
(5)Deposits into the Coastal Protection and Restoration Fund.
(6)New highway construction.
(Adds R.S. 39:100.111 and 100.112)