2018 Second Extraordinary Session ENROLLED
SENATE BILL NO. 2
BY SENATOR CLAITOR
1 AN ACT
2 To amend and reenact R.S. 39:91(B) and R.S. 47:551(D)(8)(a), relative to the transfer,
3 dedication, distribution, and use of certain funds in the state treasury; to provide for
4 the use of the monies in the Deepwater Horizon Economic Damages Collection
5 Fund; to provide relative to deposits into and uses of the Overcollections Fund; to
6 provide relative to the distribution of the local avails of the automobile rental tax; to
7 provide for the dedication of certain avails collected in East Baton Rouge Parish; to
8 provide for an effective date; and to provide for related matters.
9 Be it enacted by the Legislature of Louisiana:
10 Section 1. R.S. 39:91(B) is hereby amended and reenacted to read as follows:
11 §91. Deepwater Horizon Economic Damages Collection Fund
12 * * *
13 B. All economic damages proceeds from the DWH litigation in excess of the
14 first two hundred million dollars deposited in the Fiscal Year 2015-2016 Deficit
15 Elimination Fund shall be deposited by the treasurer as follows:
16 (1) Notwithstanding any provision of law to the contrary including the
17 provisions of Paragraphs (2), (3), and (4) of this Subsection, and Subsection C
18 of this Section, in Fiscal Year 2018-2019, the annual payment of fifty-three
19 million three hundred thirty-three thousand three hundred thirty-three dollars
20 to the state general fund.
21 (2) Forty-five percent of each such receipt of economic damages proceeds to
22 the Budget Stabilization Fund until that fund reaches the amount statutorily
23 mandated by R.S. 39:94.
24 (2)(3) Forty-five percent of each such receipt of economic damages proceeds
25 to the Medicaid Trust Fund for the Elderly provided for in R.S. 46:2691 until an
26 amount not to exceed seven hundred million dollars has been deposited into such
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words in boldface type and underscored are additions. SB NO. 2 ENROLLED
1 fund.
2 (3)(4) Ten percent of each such receipt of economic damages proceeds to the
3 Health Trust Fund provided for in R.S. 46:2731 until an amount not to exceed thirty
4 million dollars has been deposited into such fund.
5 * * *
6 Section 2. R.S. 47:551(D)(8)(a) is hereby amended and reenacted to read as follows:
7 §551. Imposition of tax
8 * * *
9 D. * * *
10 (8) The local tax as provided in Subsection A of this Section that is collected
11 in East Baton Rouge Parish shall be distributed as follows:
12 (a) Forty percent to the East Baton Rouge Council on Aging Office of the
13 Public Defender.
14 * * *
15 Section 3. Notwithstanding any provision of law to the contrary, the state treasurer
16 is hereby authorized and directed to transfer the amount of three million two hundred
17 twenty-one thousand nine hundred twenty-eight dollars from the medical device settlement
18 from the Department of Revenue Escrow Account to the Overcollections Fund.
19 Section 4. This Act shall become effective on July 1, 2018.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.