Provides relative to certain appropriations. (7/1/16)
Impact
The modifications introduced by SB 178 are designed to create a more structured approach to the management of state funds, specifically allowing for the assignment of nonrecurring revenue to critical areas such as law enforcement salary supplements and debt reduction. The legislation insists that measures are in place to prevent the reduction of these salary supplements for full-time local law enforcement and fire protection officers. By solidifying these funding requirements, the bill seeks to enhance the financial standing and operational capabilities of essential public services in Louisiana.
Summary
Senate Bill 178 proposes amendments to the Louisiana Revised Statutes relating to appropriations, particularly concerning how nonrecurring revenue may be utilized. It aims to ensure that nonrecurring money, as defined in the state's official forecast, is appropriated for specific purposes, including the deferral or retirement of bonds, funding for capital projects, and contributions to the Budget Stabilization Fund. This aligns with efforts to establish fiscal responsibility and manage state funds prudently.
Sentiment
The overall sentiment surrounding SB 178 appears to be supportive among lawmakers who prioritize fiscal stability and enhanced funding mechanisms for local agencies. Proponents view the bill as a proactive measure to protect funding for vital services, ensuring that full-time law enforcement officers receive adequate pay while also managing state budget constraints. However, there may be concerns regarding the rigidity this bill adds to financial appropriations, potentially hampering flexibility in budgetary decisions during unforeseen financial challenges.
Contention
Notable points of contention may arise from the bill's requirement that the legislature must ensure full funding for salary supplements, which some may argue places an excessive burden on future budgetary constraints. Additionally, the stipulation that neither the governor nor the legislature may reduce appropriations without bipartisan agreement can spark debates about governmental authority and fiscal governance. As Louisiana continues to navigate complex economic conditions, the implications of this legislation could be closely scrutinized for its influence on budget allocation and state financial health.
Provides that a minimum of 10% of nonrecurring revenue be applied toward reducing the balance of the unfunded accrued liability of the state retirement systems (EN SEE FISC NOTE SD RV See Note)
Requires the Revenue Estimating Conference to designate certain general fund money from mineral revenue as restricted and prohibits including such revenue in the executive budget (RE SEE FISC NOTE GF RV See Note)
(Constitutional Amendment) Provides for a minimum of 10% of nonrecurring revenue be applied toward reducing the balance of the unfunded accrued liability of the state retirement systems (EN SEE FISC NOTE SD RV See Note)
(Constitutional Amendment) Requires that a portion of nonrecurring revenue be applied toward reducing the balance of the unfunded accrued liability of certain state retirement systems
Provides relative to the disposition of certain state revenues through repeal of the Revenue Stabilization Trust Fund and dedication of certain revenues to the Budget Stabilization Fund. (EG SEE FISC NOTE GF RV See Note)
(Constitutional Amendment) Establishes the Seniors' Supplement Fund for the provision of occasional supplemental payments to certain retirees and beneficiaries of state retirement systems (OR SEE FISC NOTE SD EX)
Constitutional amendment to repeal certain constitutionally dedicated and protected allocations and funds. (2/3-CA13s1(A)) (OR INCREASE GF RV See Note)
(Constitutional Amendment) To require the legislature to appropriate no less than fifty percent of nonrecurring state revenues for application to certain state retirement system unfunded accrued liability (RR SEE FISC NOTE GF EX See Note)
Constitutional amendment to authorize limited redirection and transfer of funds supporting appropriations and allocations from the state general fund and dedicated funds in certain circumstances. (2/3 CA13s1(A)) (OR SEE FISC NOTE GF EX)