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:
(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)