GREEN SHEET REDIGEST
HCR 1 2017 First Extraordinary Session Barras
(KEYWORD, SUMMARY, AND DIGEST as amended by Senate committee
amendments)
FUNDS/FUNDING. Directs the treasurer to immediately begin implementation of the
process to allocate money deposited into the state treasury from constitutional and
statutory dedications that flow through the Bond Security and Redemption Fund for
the purpose of paying state debt.
DIGEST
Directs the treasurer to immediately begin procedures necessary to implement development
of a process to allocate money deposited into the state treasury from constitutional and
statutory dedications that flow through the Bond Security and Redemption Fund for the
purpose of paying debt service on obligations secured by the full faith and credit of the state
beginning in Fiscal Year 2017-2018.
Requires that the process implemented be limited to funds in which the constitutional or
statutory authority for the fund includes a requirement that deposits into the fund flow
through the Bond Security and Redemption Fund.
Requires the treasurer to prepare a report to the legislature describing the process to allocate
the deposits from dedications that flow through the Bond Security and Redemption Fund
prior to the 2017 R.S. of the Legislature.
Summary of Amendments Adopted by House
House Floor Amendments to the engrossed bill:
1. Provides that the process implemented be limited to funds in which the
constitutional or statutory authority for the fund includes a requirement that
deposits into the fund flow through the Bond Security and Redemption Fund.
2. Requires the treasurer to prepare a report to the legislature describing the process
to allocate the deposits from dedications that flow through the Bond Security and
Redemption Fund prior to the 2017 R.S. of the Legislature.
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Finance to the reengrossed
bill
1. Clarifies that the process is limited to the payment of debt service on obligations
secured by the full faith and credit of the state.
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Prepared by Martha Hess.