HLS 21RS-1424 ORIGINAL
2021 Regular Session
HOUSE BILL NO. 687
BY REPRESENTATIVE JENKINS
FUNDS/FUNDING: Creates the American Rescue Plan Act Small Business and Nonprofit
Youth Employment Fund and dedicates certain federal monies to the fund
1 AN ACT
2To enact Subpart P-3 of Part II-A of Chapter 1 of Title 39 of the Louisiana Revised Statutes
3 of 1950, to be comprised of R.S. 39:100.101, relative to disbursement of monies
4 received by the state pursuant to the American Rescue Plan Act of 2021; to provide
5 for creation of the American Rescue Plan Act Small Business and Nonprofit Youth
6 Employment Fund; to provide for transfer and deposit of monies into the fund; to
7 provide for administration of monies in the fund; to provide an effective date; and
8 to provide for related matters.
9Be it enacted by the Legislature of Louisiana:
10 Section 1. Subpart P-3 of Part II-A of Chapter 1 of Title 39 of the Louisiana Revised
11Statutes of 1950, comprised of R.S. 39:100.101, is hereby enacted to read as follows:
12 SUBPART P-3. AMERICAN RESCUE PLAN ACT SMALL BUSINESS AND
13 NONPROFIT YOUTH EMPLOYMENT FUND
14 ยง100.101. American Rescue Plan Act Small Business and Nonprofit Youth
15 Employment Fund
16 A. There is hereby created in the state treasury, as a special fund, the
17 "American Rescue Plan Act Small Business and Nonprofit Youth Employment
18 Fund," hereinafter referred to in this Section as the "Employment Fund".
19 B. The Employment Fund is designed to provide funding from a portion of
20 the federal monies allocated to Louisiana pursuant to the American Rescue Plan Act
21 of 2021, P.L. 117-2, for the purpose of providing assistance to households, small
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 21RS-1424 ORIGINAL
HB NO. 687
1 businesses, and nonprofits negatively impacted by the COVID-19 public health
2 emergency.
3 C. The treasurer shall transfer into the Employment Fund one hundred
4 million dollars of federal monies received by the state from the Coronavirus State
5 Fiscal Recovery Fund established pursuant to the American Rescue Plan Act of
6 2021, P.L. 117-2. Monies in the Employment Fund shall be invested in the same
7 manner as monies in the state general fund. Interest earned on investment of monies
8 in the Employment Fund shall be credited to the Employment Fund. Unexpended
9 and unencumbered monies in the Employment Fund at the end of the fiscal year shall
10 remain in the Employment Fund.
11 Section 2. This Act shall become effective upon signature by the governor or, if not
12signed by the governor, upon expiration of the time for bills to become law without signature
13by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
14vetoed by the governor and subsequently approved by the legislature, this Act shall become
15effective on the day following such approval.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 687 Original 2021 Regular Session Jenkins
Abstract: Creates the American Rescue Plan Act Small Business and Nonprofit Youth
Employment Fund (Employment Fund) as a special fund in the state treasury and
provides for the transfer and deposit of certain federal funds into the fund.
Proposed law creates the Employment Fund for the purpose of providing assistance to
households, small businesses, and nonprofits negatively impacted by the COVID-19 public
health emergency. Requires the treasurer to transfer and deposit into the Employment Fund
$100 million received by the state from the federal Coronavirus State Fiscal Recovery Fund
established by the American Rescue Plan Act of 2021 (P.L. 117-2).
Proposed law authorizes the treasurer to invest monies in the Employment Fund in the same
manner as monies in the state general fund. Further provides that interest earned on
investment of monies in the Employment Fund shall be credited to the Employment Fund.
Unexpended and unencumbered monies in the Employment Fund at the end of the fiscal year
shall remain in the Employment Fund.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Adds R.S. 39:100.101)
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.