SLS 21RS-389 ORIGINAL
2021 Regular Session
SENATE BILL NO. 229
BY SENATORS HENSGENS AND W OMACK AND REPRESENTATI VE TURNER
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
FUNDS/FUNDING. Provides for the creation, dedication, use, and investment of the
Healthcare Employment Reinvestment Opportunity (H.E.R.O.) Fund. (8/1/21)
1 AN ACT
2 To enact Chapter 20-I of Title 17 of the Louisiana Revised Statutes of 1950, to be comprised
3 of R.S. 17:3050.11, relative to the Health Care Employment Reinvestment
4 Opportunity (H.E.R.O.) Fund; to provide for the creation of the fund as a special
5 fund in the state treasury; to provide for the transfer, dedication, use, and investment
6 of monies in the fund; and to provide for related matters.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. Chapter 20-I of Title 17 of the Louisiana Revised Statutes of 1950,
9 consisting of R.S. 17:3050.11, is hereby enacted to read as follows:
10 CHAPTER 20-I. HEALTH CARE EMPLOYMENT REINVESTMENT
11 OPPORTUNITY
12 ยง3050.11. Health care Employment Reinvestment Opportunity (H.E.R.O.)
13 Fund
14 A. There is hereby established in the state treasury, as a special fund, to
15 be known as the Health Care Employment Reinvestment Opportunity
16 (H.E.R.O.) Fund, hereinafter referred to as the "fund". The fund shall consist
17 of monies received by legislative appropriation and from grants and donations.
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 229
SLS 21RS-389 ORIGINAL
1 Deposits into the fund shall comply with the provisions of Article VII, Section
2 9(B) of the Constitution of Louisiana relative to the Bond Security and
3 Redemption Fund.
4 B. Monies in the fund shall be invested by the state treasurer in the same
5 manner as monies in the state general fund, and interest earned on the
6 investment of monies in the fund shall be credited to the fund. All unexpended
7 and unencumbered monies in the fund at the end of the fiscal year shall remain
8 in the fund.
9 C. Monies in the fund shall be used to support the nursing and allied
10 health professions.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Martha S. Hess.
DIGEST
SB 229 Original 2021 Regular Session Hensgens
Proposed law establishes the Health Care Employment Reinvestment Opportunity
(H.E.R.O.) Fund as a special fund in the state treasury. Monies in the fund shall consist of
legislative appropriations and grants and donations.
Proposed law provides that monies in the fund shall be invested by the state treasurer in the
same manner as monies in the state general fund, and interest earned on the investment of
monies in the fund shall be credited to the fund. All unexpended and unencumbered monies
in the fund at the end of the fiscal year shall remain in the fund.
Proposed law provides that monies in the fund shall be used to support the nursing and allied
health professions.
Effective August 1, 2021.
(Adds R.S. 17:3050.11)
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.