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 257 Original 2016 Regular Session Ivey
Abstract: Removes temporary suspension of the requirement that money in excess of the
expenditure limit be deposited into the Budget Stabilization Fund.
Present law provides for the following deposits into the Budget Stabilization Fund:
(1)Money from the state general fund and dedicated funds in excess of the expenditure limit,
except funds allocated by Const. Art. VII, Sections 4(D) and (E) regarding severance tax and
royalty payments to parishes.
(2)Annual mineral revenues in excess of $950 million.
(3)At least $25 million per year from any source or 25% of nonrecurring money, whichever is
greater.
(4)Any money appropriated to the fund by the legislature including any appropriation to the
fund from money designated as nonrecurring.
Present law, effective until July 1, 2017, further suspends deposits until such time as the official
forecast exceeds the actual collections of state general fund (direct) revenue for FY 2008. Provides
an exception for Paragraph (3), the greater of $25 million per year from any source or 25% of
nonrecurring revenue.
Proposed law adds an additional exception to the suspension in present law (see Paragraph (1)
above) for deposits in excess of the expenditure limit.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 39:94(C)(4)(b))