HLS 23RS-566 ORIGINAL
2023 Regular Session
HOUSE BILL NO. 274
BY REPRESENTATIVE JEFFERSON
PARISHES: Provides relative to the investment of certain funds by the governing authority
of Lincoln Parish
1 AN ACT
2To enact R.S. 33:1236.31, relative to Lincoln Parish; to provide relative to the investment
3 of certain parish funds; and to provide for related matters.
4 Notice of intention to introduce this Act has been published
5 as provided by Article III, Section 13 of the Constitution of
6 Louisiana.
7Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 33:1236.31 is hereby enacted to read as follows:
9 ยง1236.31. Lincoln Parish hospital proceeds; investments
10 The governing authority of Lincoln Parish may invest funds that it received
11 from the sale of a hospital and that it placed in a permanent trust in the same manner
12 as post-employment benefits trusts may be invested pursuant to R.S. 33:5162.
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 274 Original 2023 Regular Session Jefferson
Proposed law authorizes the governing authority of Lincoln Parish to invest funds that it
received from the sale of a hospital and that it placed in a permanent trust in the same
manner as post-employment benefits trusts may be invested pursuant to present law.
Present law authorizes local governments to establish post-employment benefits funds, to
hold such funds in trust, and to invest such funds in the following securities:
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 23RS-566 ORIGINAL
HB NO. 274
(1)Direct U.S. Treasury obligations fully guaranteed by the U.S. government.
(2)Debt issued or guaranteed by federal agencies and backed by the full faith and credit
of the U.S.
(3) Debt issued or guaranteed by a U.S. government-sponsored entity.
(4)Direct security repurchase agreements of securities enumerated above.
(5)Investment grade debt issued by U.S. corporations that meets specified ratings
requirements.
(6)Investment grade debt that is issued by and backed by the full faith and credit of
sovereign nations, is denominated in U.S. dollars, and meets specified ratings
requirements.
(7)Money market and other mutual funds that meet specified requirements.
(8)The La. Asset Management Pool and any other intergovernmental pool formed by
or of La. governmental entities.
(9)Time certificates of deposit that meet specified requirements.
(10)Stocks of any corporation listed on the New York Stock Exchange, the American
Stock Exchange, or authorized for quotations display on the National Assoc. of
Securities Dealers Automated Quotations System.
(11)Exchange traded funds that meet specified requirements.
(Adds R.S. 33:1236.31)
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.