ENROLLED
2018 Regular Session
HOUSE BILL NO. 316
BY REPRESENTATIVE GARY CARTER
1 AN ACT
2 To amend and reenact R.S. 39:94(C)(3) and (4) and to enact R.S. 39:73(D) and 94(A)(5) and
3 (C)(5), relative to the Budget Stabilization Fund; to provide for uses of the fund; to
4 provide for limits on the use of the fund; to provide for the incorporation of the fund
5 into the official forecast; to provide for expenditure of the monies incorporated into
6 the official forecast; to provide for certain limitations and requirements; to provide
7 for an effective date; and to provide for related matters.
8 Be it enacted by the Legislature of Louisiana:
9 Section 1. R.S. 39:94(C)(3) and (4) are hereby amended and reenacted and R.S.
10 39:73(D) and 94(A)(5) and (C)(5) are hereby enacted to read as follows:
11 §73. Allotments to govern expenditures; transfers of allotments
12 * * *
13 (D) An increase in revenues not to exceed an amount equal to the Budget
14 Stabilization Fund incorporated into the official forecast as a result of state costs
15 incurred from a federally declared disaster shall be available for allotment and
16 expenditure by an agency on approval of an increase in the appropriation by the
17 commissioner of administration and the Joint Legislative Committee on the Budget.
18 The amount available to each state agency shall be equal to the amount specified in
19 the resolution or ballot used for the required consent of the elected members of each
20 house to use the Budget Stabilization Fund, but shall not exceed the amount of costs
21 incurred by the state agency as a result of the disaster.
22 * * *
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1 §94. Budget Stabilization Fund
2 A. There is hereby created in the state treasury a special fund to be designated
3 as the Budget Stabilization Fund, hereafter referred to in this Section as the "fund",
4 which shall consist of all money deposited into the fund in accordance with Article
5 VII, Section 10.3 of the Constitution of Louisiana. Money shall be deposited in the
6 fund as follows:
7 * * *
8 (5) Monies received by the state from the federal government for the
9 reimbursement of costs associated with a federally declared disaster, not to exceed
10 the amount of costs appropriated out of the fund for the same disaster pursuant to
11 Paragraph (C)(3) of this Section.
12 * * *
13 C. The money in the fund shall not be available for appropriation except
14 under the following conditions:
15 * * *
16 (3)(a) If there is a disaster in the state that is declared a disaster by the
17 federal government, the Revenue Estimating Conference shall incorporate a specified
18 amount of the fund into the official forecast for the year in which the costs are
19 incurred pursuant to a concurrent resolution adopted by a favorable vote of two-
20 thirds of the elected members of each house.
21 (b) If the legislature is not in session, the two-thirds consent requirement
22 shall be obtained as provided in R.S. 39:87.
23 (c) The resolution or ballot used for the required consent of the elected
24 members of each house shall specify the amount of the fund that will be available for
25 allotment and expenditure by each agency. The amount specified to be received by
26 an agency shall not exceed the costs incurred by the agency related to the declared
27 disaster.
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1 (d) The amount of the fund that may be incorporated into the official forecast
2 for the year in which the state costs of the disaster are incurred shall not exceed
3 either of the following:
4 (i) The state costs incurred with the disaster.
5 (ii) One-third of the fund balance, determined in accordance with R.S. 39:95,
6 at the beginning of the current fiscal year.
7 (3)(4) In no event shall the amount included in the official forecast for the
8 ensuing fiscal year pursuant to Paragraph (1) of this Subsection, plus the amount
9 included in the official forecast in the current fiscal year pursuant to Paragraph (2)
10 of this Subsection, plus the amount included in the official forecast if there is a
11 declared disaster pursuant to Paragraph (3) of this Subsection, exceed one-third of
12 the fund balance, determined in accordance with R.S. 39:95, at the beginning of the
13 current fiscal year.
14 (4)(5)(a) No appropriation or deposit to the fund shall be made if such
15 appropriation or deposit would cause the balance in the fund to exceed four percent
16 of total state revenue receipts for the previous fiscal year. For the purposes of this
17 Section, total state revenue receipts shall not include any monies received by the
18 state from the Federal Emergency Management Agency or other sources providing
19 disaster relief assistance.
20 (b) Notwithstanding any provision of this Section to the contrary, except
21 pursuant to a specific appropriation by the legislature, Paragraph (A)(1) of this
22 Section, or the annual deposit required by Paragraph (A)(3) of this Section, no
23 appropriation or deposit to the fund shall be made in the same fiscal year as an
24 appropriation, use or withdrawal is made from the fund or until such time as the
25 official forecast exceeds the actual collections of state general fund (direct) revenue
26 for Fiscal Year 2008. The provisions of this Subparagraph shall be null, void, and
27 of no effect on July 1, 2017.
28 Section 2. This Act shall take effect and become operative if and when the proposed
29 amendment of Article VII of the Constitution of Louisiana contained in the Act which
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1 originated as House Bill No. 309 of this 2018 Regular Session of the Legislature is adopted
2 at a statewide election and becomes effective.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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