RÉSUMÉ DIGEST
ACT 448 (HB 639) 2021 Regular Session Zeringue
Existing law creates the La. Superdome Fund and requires the deposit of certain proceeds
from the settlement of certain lawsuits into the fund.
Prior law required proceeds received by the La. Stadium and Exposition District to be
deposited in the fund.
New law removes the requirement that the La. Stadium and Exposition District's portion of
the proceeds received from the settlement be deposited into the fund.
Prior law required that monies in the fund be used exclusively to partially defray the cost of
upgrades to certain state facilities by the La. Stadium and Exposition District.
New law allows monies in the fund to be utilized to partially defray the cost of upgrades to
certain state facilities or for operational costs of the La. Stadium and Exposition District.
New law creates the Hurricane and Storm Damage Risk Reduction System Repayment Fund
as a special fund in the state treasury.
New law requires, for Fiscal Year 2021-2022, that 38% of any increase of State General
Fund revenue recognized by the Revenue Estimating Conference for Fiscal 2021-2022 above
the official state general fund forecast adopted on May 18, 2021, be deposited into the fund.
New law requires, for Fiscal Year 2022-2023, that certain state taxes levied on the sale at
retail, use, lease, rental, consumption, distribution, and storage for use or consumption of
each item or article of tangible personal property, including remote sales, that are collected
in the parishes of St. Charles, Jefferson, Plaquemines, St. Bernard, and Orleans be deposited
into the fund.
New law prohibits the total amount deposited into the fund from exceeding $400 million.
New law provides that money in the fund shall be used exclusively to make payments to the
U.S. Army Corp of Engineers for costs associated with the Hurricane and Storm Damage
Risk Reduction System or to make debt service payments if the state issues general
obligation bonds to fund the payments to the U.S. Army Corp of Engineers.
New law prohibits any federal funds received by the state for infrastructure projects pursuant
to the American Jobs Plan Act from being expended or encumbered prior to Joint Legislative
Committee on the Budget approval of a proposal for spending the funds submitted by the
division of administration.
New law requires the proposal to include the amount of funding for specific transportation,
highway, construction, or other infrastructure projects.
New law directs the treasurer to transfer $1.65 million from the State General Fund in state
Fiscal Year 2020-2021 into the Capital Outlay Savings Fund.
Effective June 30, 2021.
(Amends R.S. 39:100.26(B) and (D); Adds R.S. 39:100.122 and 134.1)