HLS 23RS-213 ORIGINAL
2023 Regular Session
HOUSE BILL NO. 39
BY REPRESENTATIVE TARVER
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
FUNDS/FUNDING: Removes restriction on total amount of money deposited into the
Megaprojects Leverage fund each year
1 AN ACT
2To amend and reenact R.S. 48:77.1(A), relative to funding of the Megaprojects Leverage
3 Fund; to provide with respect to the maximum amount deposited into the fund in any
4 fiscal year; to provide for an effective date; and to provide for related matters.
5Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 48:77.1(A) is hereby amended and reenacted to read as follows:
7 ยง77.1. Megaprojects Leverage Fund
8 A. There is hereby created in the state treasury a special fund to be
9 designated and hereafter referred to as the Megaprojects Leverage Fund, hereinafter
10 referred to as the "fund". The state treasurer shall deposit into the fund seventy-five
11 percent of that portion of the avails of the taxes imposed by Chapters 2, 2-A, and 2-B
12 of Subtitle II of Title 47 of the Louisiana Revised Statutes of 1950, from the sale,
13 use, or lease of motor vehicles that are taxable pursuant to Chapters 2, 2-A, and 2-B
14 of Subtitle II of Title 47 of the Louisiana Revised Statutes of 1950, provided for in
15 R.S. 48:77(A), provided however that the total deposits into the fund from these
16 avails shall not exceed one hundred sixty million dollars in any fiscal year. Once all
17 projects described in R.S. 48:77(C)(1) have either been completed and issued final
18 acceptance or a request not to proceed with the project has been approved by the
19 Senate Committee on Transportation, Highways and Public Works and the House
20 Committee on Transportation, Highways and Public Works as provided in this
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 39
HLS 23RS-213 ORIGINAL
1 Section, and any outstanding debt issued under R.S. 48:77.2 has been either repaid
2 or defeased, there shall be no further deposits into the fund.
3 * * *
4 Section 2. This Act shall become effective upon signature by the governor or, if not
5signed by the governor, upon expiration of the time for bills to become law without signature
6by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
7vetoed by the governor and subsequently approved by the legislature, this Act shall become
8effective 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 39 Original 2023 Regular Session Tarver
Abstract: Removes cap on annual amount that may be deposited into the Megaprojects
Leverage Fund (MLF).
Present law (R.S. 48:77) dedicates a portion of tax avails collected on the sale, use, or lease
of motor vehicles to the Transportation Trust Fund and the MLF. For Fiscal Year 2023-
2024, present law dedicates 30% of such tax collections to these two funds. For Fiscal Years
2024-2025 and beyond, present law dedicates 60% of such tax collections to these two
funds. Proposed law retains present law.
Present law (R.S. 48:77.1) establishes the MLF as a special fund in the state treasury and
requires the treasurer to deposit into the fund an amount equal to 75% of the motor vehicle
sales, use, and lease tax avails dedicated to the MLF and the Transportation Trust Fund in
present law. Proposed law retains present law.
Present law further prohibits total deposits into the MLF from exceeding $160 million in any
fiscal year. Proposed law repeals this cap on total annual deposits into the MLF.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 48:77.1(A))
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.