The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Jerry J. Guillot.
DIGEST
SB 346 Original 2016 Regular Session Carter
Proposed law specifically provides that notwithstanding any other law to the contrary and except as
provided by the Constitution of Louisiana and the exceptions provided below, all special funds in
the state treasury are abolished and any and all laws of the state which dedicate or otherwise provide
for the use of money required by the Constitution of Louisiana to be deposited in the state treasury
are superseded on the effective date of this Act.
Proposed law provides that the treasurer is authorized and directed to transfer the balances of the
abolished funds and deposit them into the general fund. Notwithstanding laws requiring certain
money to be deposited in and credited to such abolished special funds, the treasurer, upon receipt
of such money, and after compliance with the requirements of Article VII, Section 9(B) of the
constitution relative to the Bond Security and Redemption Fund, shall deposit the money in and
credit it to the general fund. All interest earned on investment of the money shall be deposited in and
credited to the general fund.
Proposed law provides that the abolition of special treasury funds shall not apply to or affect the laws
which dedicate or otherwise provide for the use of the following money or the laws which provide
for the following:
(1)Special funds or dedications of money established in or protected by the Constitution of
Louisiana or special funds containing money not required by the constitution to be deposited
in the state treasury.
(2)Special funds established in the treasury or dedications of money established solely as a
requirement of the terms and conditions of, or as a requirement of an agreement pertaining
to, the following:
(a)Grants, donations, or other forms of assistance.
(b)Court or regulatory agency orders or judgments.
(c)Contracts of the state or of its agencies, boards, or commissions, including contracts
related to the issuance of bonds, notes, and other indebtedness.
(d)A contract concerning the satisfaction of final judgments, settlements, or
compromises.
(3)Special funds and dedications of money provided by law funded by assessments or
surcharges for the satisfaction of final judgments, settlements, orders, awards, or compromises.
(4)Special funds and dedications of money provided by law related to the judiciary or the
legislature.
(5)Any funds including interest earned thereon which are paid or deposited on a voluntary basis
by persons or other private legal entities for their protection or benefit.
Proposed law provides that the abolition shall not apply to that portion of any special fund or
dedication of funds allocated or distributed to a local governmental or non-governmental entity
which authorizes the issuance of bonds, notes, and other evidences of indebtedness to such entity and
only in the event that such monies have been obligated into bonds, notes, and other evidences of
indebtedness as of the effective date of this Act.
Proposed law also provides that upon the effective date of this Act, the state treasurer is hereby
authorized and directed to create a subfund within the state general fund and to deposit monies
sufficient for the satisfaction of the obligations of such local governmental or non-governmental
entity.
Repeals provisions of present law which abolished certain special treasury funds, including certain
excluded funds therein, as provided in R.S. 49:308.3, and originally enacted under the provisions
of Act 5 of the First Extraordinary Session of 1988, effective July 1, 1988, and subsequent statutory
changes which may be in conflict with the proposed law statutory provisions.
Repeals several exclusions in present law relative to the abolition of laws dedicating money or
special funds, as follows:
(1)The Hazardous Waste Site Cleanup Fund created and maintained pursuant to R.S. 30:2205
and the Environmental Trust Fund created and maintained pursuant to R.S. 30:2015.
(2)This Section shall not apply to or affect R.S. 47:5001 et seq. relative to the State Tax
Revenue Limit.
(3)This Section shall not apply to the Motorcycle Safety, Awareness, and Operator Training
Program Fund as provided in R.S. 32:412(C)(2), the Proprietary School Student Protection
Fund as provided for in R.S. 17:3141.16.
Requests the La. State Law Institute to review all statutes relative to special treasury funds and
dedicated funds abolished in this Act and change any references it deems appropriate in other
locations of the Louisiana Revised Statutes of 1950.
Effective upon governor's signature or lapse of time for gubernatorial action.
(Adds R.S. 49:308.2; repeals R.S. 49:308.3)