Louisiana House Bill HB379

Louisiana 2018 Regular Session

• Introduced: 3/1/18
• Refer: 3/2/18
• Refer: 3/12/18
• Report Pass: 4/24/18
• Engrossed: 4/30/18
• Refer: 5/1/18
• Report Pass: 5/14/18
• Enrolled: 5/18/18
• Chaptered: 6/2/18
• Passed: 6/2/18

Caption

Provides for the transfer, deposit, and use of certain treasury funds (EG SEE FISC NOTE GF RV See Note)

Impact

The passing of HB 379 is poised to have a significant impact on how state funds are managed and appropriated. By amending existing statutes, the bill clarifies the processes involved in the remission of cash balances and expenditures of appropriations, thereby streamlining the state's fiscal management. Furthermore, the repeal of certain provisions may simplify the legal framework governing treasury functions, encouraging more efficient budgetary practices.

Summary

House Bill 379 addresses the management and allocation of treasury funds within the state of Louisiana. The bill allows for the transfer of specific funds and outlines the deletion of certain requirements related to the Overcollections Fund, Higher Education Financing Fund, and Payments Towards the Unfunded Accrued Liability (UAL) Fund. It sets a clear directive for the state treasurer regarding how these funds are to be deposited and used, particularly focusing on the use of nonrecurring revenues from surplus funds recognized by the Revenue Estimating Conference.

Sentiment

The sentiment surrounding HB 379 appears to be generally favorable among the majority of legislators, as evidenced by its adoption in the Senate with overwhelming support. The optimism seems rooted in the belief that improved financial management and clarity in appropriations will lead to better overall governance and fiscal health for the state. However, there may be concerns regarding the implications of repealing existing fund requirements, which could lead to reduced oversight over how funds are utilized.

Contention

Notable points of contention surrounding HB 379 revolve around the repeal of specific financial provisions, which could lead to debates about accountability in the use of state funds. While the intent may be to simplify treasury operations, critics could argue that such changes might expose gaps in oversight, particularly regarding the allocation of public resources. The balance between effective fund management and sufficient safeguards to prevent misuse or misallocation remains a crucial area of discussion among lawmakers.