SLS 23RS-362 ENGROSSED
2023 Regular Session
SENATE BILL NO. 146
BY SENATOR CORTEZ
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
FUNDS/FUNDING. Provides for Megaprojects Leverage Fund investments. (gov sig)
1 AN ACT
2 To amend and reenact R.S. 48:77.1(B), relative to the Megaprojects Leverage Fund; to
3 provide for a separate portfolio for monies in the fund to be invested by the state
4 treasurer in the same securities as allowed for the state general fund; to provide for
5 the payment of expenses; and to provide for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 48:77.1(B) is hereby amended and reenacted to read as follows:
8 ยง77.1. Megaprojects Leverage Fund
9 * * *
10 B. Monies in the fund shall be invested by the treasurer in a separate
11 portfolio in the same manner securities as allowed for the state general fund, and
12 interest earnings. All investment earnings on this portfolio shall be deposited into
13 the fund. All unexpended and unencumbered monies remaining in the fund at the end
14 of each fiscal year shall remain in the fund. The amounts in the fund shall be
15 available for appropriation to pay expenses incurred for custody, investment,
16 and disbursement costs directly attributable to the investment of the fund.
17 * * *
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. 146
SLS 23RS-362 ENGROSSED
1 Section 2. This Act shall become effective upon signature by the governor or, if not
2 signed by the governor, upon expiration of the time for bills to become law without signature
3 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
4 vetoed by the governor and subsequently approved by the legislature, this Act shall become
5 effective on the day following such approval.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Tracy Sabina Sudduth.
DIGEST
SB 146 Engrossed 2023 Regular Session Cortez
Present law provides that all monies in the fund shall be invested by the treasurer in the same
manner as the general fund.
Present law provides that all interest earnings be deposited into the fund. Proposed law
requires all investment earnings on the portfolios be deposited into the fund.
Proposed law provides that all monies in the fund shall be invested in separate portfolios in
the same securities allowed for the general fund.
Proposed law authorizes monies in the fund to be available to pay expenses and costs
directly attributable to the investing in the fund.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 48:77.1(B))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.