Louisiana House Bill HB534

Louisiana 2018 Regular Session

• Introduced: 3/2/18
• Refer: 3/2/18
• Refer: 3/12/18

Caption

Establishes the Louisiana Government Assistance Program Fund as a special treasury fund and provides for an annual dedication of revenues for the fund

Impact

The introduction of HB 534 significantly impacts state law by creating a formalized funding mechanism aimed at supporting local government needs. The fund's establishment means that municipal bodies can access designated financial resources to undertake critical projects without straining their budgets. Furthermore, it allows for more structured governance of state funds, as it mandates the deposit and investment of resources specifically for local development purposes.

Summary

House Bill 534 establishes the Louisiana Government Assistance Program Fund as a special fund within the state treasury. This fund is dedicated to providing financial support to local governments for various capital and infrastructure projects. The bill specifies an initial allocation of five million dollars for the fiscal year 2018-2019, with subsequent yearly deposits adjusted for inflation based on the Consumer Price Index. This measure aims to ensure a reliable funding source for local initiatives that require state assistance.

Sentiment

Overall, the sentiment surrounding HB 534 appears to be positive, particularly among local government officials and advocates for infrastructure development. Supporters of the bill view it as a worthwhile investment in the state's future, promoting economic growth and improving public services at the local level. However, some skepticism exists regarding the sustainability of funding as the adjustments depend on future budget appropriations and economic fluctuations.

Contention

A notable point of contention may arise from the initial funding amount and its adherence to inflation adjustments in subsequent years. Some legislators might raise concerns about the adequacy of five million dollars to meet the diverse needs of local governments. Additionally, ongoing discussions could emerge about any potential restrictions on how the allocated funds can be utilized, raising issues of local autonomy in deciding priorities for capital projects.