The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Martha S. Hess.
DIGEST
SB 4Original 2016 First Extraordinary Session LaFleur
Present law established the Deepwater Horizon Economic Damages Collection Fund as a special
permanent trust fund in the state treasury for deposits of the proceeds of the settlement of the state's
economic damages lawsuit to recover economic damages sustained from the Deepwater Horizon
explosion and oil spill (DWH litigation) into the fund.
Present law provides that within 30 days of the receipt of economic damages proceeds from the
DWH litigation, the treasurer is to make the following deposits:
(1)45% of each such receipt to the Budget Stabilization Fund until that fund reaches the amount
statutorily mandated by existing law (4% of the previous fiscal year's state revenue receipts).
(2) 45% of each such receipt to the Medicaid Trust Fund for the Elderly until $700,000,000 has
been deposited into the fund.
(3) 10% of each such receipt to the Health Trust Fund until $30,000,000 has been deposited into
the fund.
Proposed law provides that receipts from the DWH litigation received on or before June 30, 2017
are to be deposited into the state general fund. Proposed law retains present law for receipts from the
DWH litigation received on or after July 1, 2017.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 39:94(A) and (B)(intro para))