HASBSB238 TYLERT 3600
SENATE SUMMARY OF HOUSE AMENDMENTS
SB 238 2021 Regular Session Milligan
KEYWORD AND SUMMARY AS RETURNED TO THE SENATE
SCHOOLS. Provides for the Caddo Educational Excellence Fund. (gov sig)
SUMMARY OF HOUSE AMENDMENTS TO THE SENATE BILL
1. Makes a technical change.
DIGEST OF THE SENATE BILL AS RETURNED TO THE SENATE
DIGEST
SB 238 Engrossed 2021 Regular Session Milligan
Present law establishes the Caddo Educational Excellence Fund as a permanent trust fund
of the Caddo Parish School Board and provides that instructional enhancement shall be the
sole purpose the school board's expenditure of money from the fund. Proposed law retains
present law.
Present law authorizes the school board to withdraw the investment income of the fund each
January. Proposed law instead authorizes the school board to withdraw money from the fund
after the end of each fiscal year as provided in proposed law, which limits withdrawals from
the fund as follows:
(1)In the fiscal year following a year that the earnings of the fund were greater than 5%,
withdrawals from the fund shall not exceed 5% of the fund.
(2)In the fiscal year following a year that the earnings of the fund were between 3% and
5%, withdrawals from the fund shall not exceed the rate of earnings from the
previous year.
(3)In the fiscal year following a year that the earnings of the fund were less than 3%,
withdrawals from the fund shall not exceed 3% of the fund.
Present law provides that funds shall be invested in the same manner as monies in the state
general fund. Proposed law provides instead that they shall be invested in the same manner
as post-employment benefits trusts are permitted to be invested pursuant to present law.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 17:408.1(A) and (B))
______________________
Thomas L. Tyler
Deputy Chief of Staff
Page 1 of 1