RÉSUMÉ DIGEST
ACT 486 (HB 514) 2021 Regular Session Magee
Prior law provided that beginning in Fiscal Year 2017-2018 and each fiscal year thereafter,
from the avails of certain sales and use taxes and inventory tax on motor vehicles, the
treasurer shall deposit into the Transportation Trust Fund an amount equal to the increase in
general fund revenues certified by the Revenue Estimating Conference as being attributable
to present law (Act 2015, No. 257), but not in excess of $100 million each fiscal year.
Prior law provided that the first $70 million of the monies deposited into the Transportation
Trust Fund were to be used exclusively for state highway pavement and bridge sustainability
projects. Thereafter, 93% of the remaining monies was allocated as follows: not less than
30% for highway priority program projects classified as capacity projects; 25% for port
construction and development priority program projects; and the remaining monies for state
highway pavement and bridge sustainability projects. Seven percent of the remaining monies
was to be used for final design and construction and was prohibited from being used for
studies.
Prior law specified that none of the monies deposited into the Transportation Trust Fund
pursuant to prior law were to be appropriated to the office of state police.
New law repeals prior law and provides that beginning FY 2023-2024, 30% of the avails of
the taxes from the sale, use, or lease of motor vehicles taxable pursuant to existing law shall
be deposited into the Construction Subfund of the Transportation Trust Fund (subfund).
Provides that for FY 2024-2025 and each fiscal year thereafter, 60% of the avails of the taxes
from the sale, use, or lease of motor vehicles taxable pursuant to existing law shall be
deposited into the subfund.
New law provides that beginning with Fiscal Year 2024-2025, during any fiscal year, if the
Revenue Estimating Conference revises the Official Forecast resulting in a decrease in
recurring state general fund revenue for the current year of $100 million or more from the
Official Forecast at the beginning of the current fiscal year, the amount of avails deposited
into the subfund pursuant to the provisions of new law shall not exceed $150 million for that
fiscal year. Further provides that the remainder of the avails collected for that fiscal year in
excess of $150 million shall be deposited into the state general fund.
New law further provides that the Dept. of Transportation and Development (DOTD) shall
utilize up to 75% of the monies deposited into the subfund pursuant to new law on certain
enumerated capital construction road and bridge projects.
New law requires DOTD to utilize an amount not less than 25% of the remaining money
deposited into the subfund pursuant to new law on highway and bridge preservation projects
included in the existing law highway priority program.
New law provides that of the money used on the highway and bridge preservation projects
five percent, not to exceed $10 million, shall be utilized on projects authorized pursuant to
existing law (R.S. 48:224.1).
New law provides that in any fiscal year, neither the state nor any agency shall issue debt in
excess of $150 million that is secured by any monies deposited into the subfund pursuant to
the provisions of new law.
Effective August 1, 2021.
(Amends R.S. 48:77)