The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Jay R. Lueckel.
DIGEST
SB 155 Original 2016 Regular Session Claitor
Present law provides that all economic damages proceeds from the DWH litigation in excess of the
first two hundred million dollars deposited in the Fiscal Year 2015-2016 Deficit Elimination Fund
shall be deposited by the treasurer as follows:
(1)45% of each such receipt of economic damages proceeds to the Budget Stabilization Fund
until that fund reaches the amount statutorily mandated by law.
(2)45% of each such receipt of economic damages proceeds to the Medicaid Trust Fund for the
Elderly until an amount not to exceed $700 million has been deposited into such fund.
(3)10% of each such receipt of economic damages proceeds to the Health Trust Fund until an
amount not to exceed $30 million has been deposited into such fund.
Proposed law retains present law but reduces each of the allocations of the Budget Stabilization Fund
and the Medicaid Trust Fund for the Elderly from 45% to 40%. Further provides that 10% shall be
allocated and distributed to the Board of Regents.
Present law provides that appropriations from the Deepwater Horizon Economic Damages Collection
Fund shall be limited to an annual amount not to exceed the estimated aggregate annual earnings
from interest earned on the investment of monies in the fund and shall be made to the Board of
Regents to be equitably allocated to public postsecondary education institutions in the state in
accordance with the constitutionally mandated master plan and the distribution formula. Further
provides that the board may also distribute such appropriations to independent institutions for higher
learning in accordance with R.S. 17:2053.
Proposed law retains provisions of present law relative to the appropriation of interest earnings but
deletes provisions authorizing the Board of Regents to distribute appropriations to independent
institutions for higher learning. Further, specifies that appropriations for public postsecondary
education institutions shall include the 10% of each receipt of the economic damages proceeds, as
well as the estimated aggregate annual interest earnings on the fund to be equitably allocated to
public postsecondary education institutions in the state in accordance with the constitutionally
mandated master plan and the distribution formula.
Effective July 1, 2016.
(Amends R.S. 39:91(B)(1) and (2) and (C)(2)(a); adds R.S. 39:91(B)(4))