RÉSUMÉ DIGEST
ACT 120 (HB 516) 2021 Regular Session Zeringue
Appropriates supplemental funding and provides for means of financing substitutions and
other budgetary adjustments for Fiscal Year 2020-2021. Provides for net increases
(decreases) as follows: State General Fund (Direct) by $587,231,006; Interagency Transfers
by ($15,639,612); Fees & Self-generated Revenues by $45,239,810; Statutory Dedications
by ($504,619,775); and Federal Funds by ($177,060,217).
Appropriates $27,043,431 of State General Fund (Direct) of nonrecurring revenue out of the
surplus from Fiscal Year 2019-20 for the Unfunded Accrued Liability (UAL) in state
retirement systems.
New law further provides that any appropriation to a local government entity contained in
Act 45 of the 2020 Second Extraordinary Session for which a valid cooperative endeavor
agreement exists between the entity and the state treasury on June 30, 2021, shall be deemed
a bona fide obligation through Dec. 31, 2021. Requires all other provisions of the
cooperative endeavor agreement, including reporting requirements, to be performed as
agreed. Additionally provides that any appropriation contained in new law shall be deemed
a bona fide obligation through June 30, 2022.
Effective upon signature of the governor (June 7, 2021).
VETO MESSAGE:
"Please allow this letter to inform you that I have signed House Bill 516 of the 2021
Regular Session. However, I have exercised my line item veto authority granted to me to veto
4 items.
I have exercised my line item veto authority as follows:
Veto No. 1:Delete Lines 40-41 on Page 27 of 36: This item contains an
unnecessary appropriation.
Veto No. 2:Delete Lines 12-14 on Page 29 of 36: This item contains an
unnecessary appropriation.
Veto No. 3:Delete Lines 23-24 on Page 30 of 36: This item contains an
unnecessary appropriation.
Veto No. 4:Delete Lines 33-35 on Page 30 of 36: This item contains an
unnecessary appropriation.
Enclosed is a copy of the signed version of House Bill 516. I have sent the original to the
Secretary of State."