HLS 25RS-891 ORIGINAL
2025 Regular Session
HOUSE BILL NO. 599
BY REPRESENTATIVE EMERSON
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
FUNDS/FUNDING: Relative to finances of the state
1 AN ACT
2To amend and reenact R.S. 30:86(A)(1) and 2483(B) through (E), R.S. 39:94(A), (B), and
3 (C)(5), 98.1, 98.4(A) and (F), 100.116(A)(1) through (3), (9), (10), and (12) and (B),
4 and 100.112, R.S. 49:214.5.4(B) through (J), and R.S. 51:639.8(C) and (E)(1), to
5 enact R.S. 30:86(I) through (K) and 2483(F) and (G) and R.S. 51:639.8(H), and to
6 repeal R.S. 39:98.3(E), 100.116(A)(11) and (13), (C), and (D) and R.S.
7 49:214.5.4(K), relative to finances of the state; to provide for certain treasury funds;
8 to provide for the transfer, deposit, and use, as specified, of monies in certain
9 treasury funds and accounts; to provide for the investment of certain treasury funds
10 and accounts; to repeal certain treasury fund and accounts; to provide for
11 effectiveness; and to provide for related matters.
12Be it enacted by the Legislature of Louisiana:
13 Section 1. R.S. 30:86(A)(1) and 2483(B) through (E) are hereby amended and
14reenacted and R.S. 30:86(I) through (K) and 2483(F) and (G) are hereby enacted to read as
15follows:
16 §86. Oilfield Site Restoration Fund
17 A.(1) There is hereby established a fund in the custody of the state treasurer
18 in the state treasury a special fund to be known as the Oilfield Site Restoration Fund,
19 hereafter referred to in this Section as the "fund", into which the state treasurer shall,
20 each fiscal year, deposit the revenues received from the collection of the monies
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1 enumerated in Subsection D of this Section, after those revenues have been deposited
2 in the Bond Security and Redemption Fund.
3 * * *
4 I. All unexpended and unencumbered monies in the fund at the end of the
5 fiscal year shall remain in the fund. The monies in the fund shall be invested by the
6 treasurer in the same manner as monies in the state general fund. Interest earned on
7 investment of monies in the fund shall be deposited into the fund.
8 J. The state treasurer shall prepare and submit to the department on a
9 quarterly basis a printed report showing the amount of money contained in the fund
10 from all sources.
11 K. The provisions of this Section shall not apply to affect funds allocated by
12 Article VII, Section 8, Paragraphs (B) and (C) of the Constitution of Louisiana.
13 * * *
14 §2483. Oil Spill Contingency Fund
15 * * *
16 B. There shall be established in the state treasury, as a special fund, the Oil
17 Spill Contingency Fund, hereinafter referred to as the "contingency fund". Out of
18 the funds remaining in the Bond Security and Redemption Fund after a sufficient
19 amount is allocated from that fund to pay all obligations secured by the full faith and
20 credit of the state which become due and payable within any fiscal year as required
21 by Article VII, Section 13(B) of the Constitution of Louisiana, the treasurer shall pay
22 into the contingency fund all of the following:
23 (1) All fees, taxes, penalties, judgments, reimbursements, charges, and
24 federal funds collected pursuant to the provisions of this Chapter, except as provided
25 by R.S. 30:2480.2.
26 (2) Any fees, taxes, penalties, reimbursements, charges, federal funds, or
27 other revenue enacted by the legislature for the purposes of abatement and
28 containment of actual or threatened unauthorized discharges of oil after November
29 23, 1995, shall be irrevocably dedicated and deposited in the contingency fund.
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1 (3) All funds or revenues which may be donated expressly to the
2 contingency fund.
3 C. The monies in the contingency fund shall be appropriated by the
4 legislature to be used solely for the programs and purposes of abatement and
5 containment of actual or threatened unauthorized discharges of oil and for
6 administrative expenses associated with such programs and purposes, as provided
7 in this Part.
8 D. In order to fulfill the constitutional mandate of Article IX, Section 1 of
9 the Constitution of Louisiana to protect, conserve, and replenish the natural resources
10 of the state, the legislature hereby declares that sufficient funds shall be made
11 available to the Oil Spill Contingency Fund, in order for prevention of and response
12 to unauthorized discharges of oil.
13 C. E. The purpose of the fund is to immediately provide available funds for
14 response to all threatened or actual unauthorized discharges of oil, for clean up of
15 pollution from unauthorized discharges of oil, natural resources damages, damages
16 sustained by any state agency or political subdivision, and removal costs from
17 threatened, unauthorized discharges of oil.
18 D. All fees, taxes, penalties, judgments, reimbursements, charges, and
19 federal funds collected pursuant to the provisions of this Chapter, except as provided
20 by R.S. 30:2480.2, shall be deposited immediately upon receipt into the state
21 treasury.
22 E. F. After compliance with the requirements of Article VII, Section 9(B) of
23 the Constitution of Louisiana relative to the Bond Security and Redemption Fund,
24 and prior to monies being placed in the state general fund, an amount equal to that
25 deposited, as required in Subsection D of this Section, and monies appropriated by
26 the legislature shall be credited to a special fund hereby created in the state treasury
27 to be known as the "Oil Spill Contingency Fund". The monies in this fund shall be
28 used solely as provided in this Part and only in the amounts appropriated by the
29 legislature. All unexpended and unencumbered monies in this fund at the end of the
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1 fiscal year shall remain in the fund. The monies in this fund shall be invested by the
2 state treasurer in the same manner as monies in the state general fund, and interest
3 earned on the investment of these monies shall remain in the fund.
4 G. The provisions of this Section shall not apply to or affect funds allocated
5 by Article VII, Section 8, Paragraphs (B) and (C) of the Constitution of Louisiana.
6 Section 2. R.S. 39:94(A), (B), and (C)(5), 98.1, 98.4(A) and (F), and 100.116(A)(1)
7through (3), (9), (10), and (12) and (B) are hereby amended and reenacted to read as follows:
8 §94. Budget Stabilization Fund
9 A. There is hereby created in the state treasury a special fund to be
10 designated as the Budget Stabilization Fund, hereafter referred to in this Section as
11 the "fund", which shall consist of all money deposited into the fund in accordance
12 with Article VII, Section 10.3 15 of the Constitution of Louisiana. Money shall be
13 deposited in the fund as follows:
14 (1) All money available for appropriation from the state general fund and
15 dedicated funds in excess of the expenditure limit, except funds allocated by Article
16 VII, Section 4 8, Paragraphs (D) and (E) (B) and (C) of the Constitution of
17 Louisiana, shall be deposited in the fund.
18 (2)(a) All revenues received in each fiscal year by the state in excess of nine
19 hundred fifty million dollars, hereinafter referred to as the "base", as a result of the
20 production of or exploration for minerals, hereinafter referred to as "mineral
21 revenues", including severance taxes, royalty payments, bonus payments, or rentals,
22 and excluding such revenues designated as nonrecurring pursuant to Article VII,
23 Section 10(B) of the Constitution of Louisiana, any such revenues received by the
24 state as a result of grants or donations when the terms or conditions thereof require
25 otherwise and revenues derived from any tax on the transportation of minerals, shall
26 be deposited in the fund after the following allocations of said mineral revenues have
27 been made:
28 (i) To the Bond Security and Redemption Fund as provided by Article VII,
29 Section 9(B) of the Constitution of Louisiana.
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1 (ii) To the political subdivisions of the state as provided in Article VII,
2 Sections 4(D) and (E) of the Constitution of Louisiana.
3 (iii) As provided by the requirements of Article VII, Sections 10-A and 10.1
4 of the Constitution of Louisiana.
5 (b) The base may be increased every ten years beginning in the year 2014
6 by a law enacted by two-thirds of the elected members of each house of the
7 legislature. Any such increase shall not exceed fifty percent in the aggregate of the
8 increase in the consumer price index for the immediately preceding ten years.
9 (3) The greater of twenty-five million dollars from any source, or twenty-
10 five percent of any money designated in the official forecast as nonrecurring as
11 provided in Article VII, Section 10(D)(2) 14(D)(2) of the Constitution of Louisiana,
12 shall annually be deposited in and credited to the fund.
13 (4) (3) Any money appropriated to the fund by the legislature including any
14 appropriation to the fund from money designated in the official forecast as provided
15 in Article VII, Section 10(D)(2) 14(D)(2) of the Constitution of Louisiana shall be
16 deposited in the fund.
17 (5) (4) An amount equivalent to the money received by the state from the
18 federal government for the reimbursement of costs associated with a federally
19 declared disaster, not to exceed the amount of costs appropriated out of the fund for
20 the same disaster pursuant to Paragraph (C)(3) of this Section.
21 B. Money in the fund shall be invested by the state treasurer in accordance
22 with law. Earnings realized in each fiscal year on the investment of monies in the
23 fund shall be deposited to the credit of the fund. All unexpended and unencumbered
24 monies in the fund at the end of the fiscal year shall remain in the fund.
25 C. The money in the fund shall not be available for appropriation except
26 under the following conditions:
27 * * *
28 (5) No appropriation or deposit to the fund shall be made if such
29 appropriation or deposit would cause the balance in the fund to exceed four seven
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1 and one-half percent of total state revenue receipts for the previous fiscal year. For
2 the purposes of this Section, total state revenue receipts shall not include any monies
3 received by the state from the Federal Emergency Management Agency or other
4 sources providing disaster relief assistance.
5 * * *
6 §98.1. Creation of funds
7 A. There shall be established in the state treasury as a special permanent trust
8 fund the Millennium Trust. After allocation of money to the Bond Security and
9 Redemption Fund as provided in Article VII, Section 9(B) of the Constitution of
10 Louisiana, the treasurer shall deposit in and credit to the Millennium Trust certain
11 monies received as a result of the Master Settlement Agreement, hereinafter the
12 "Settlement Agreement", executed November 23, 1998, and approved by Consent
13 Decree and Final Judgment entered in the case "Richard P. Ieyoub, Attorney
14 General, ex rel. State of Louisiana v. Philip Morris, Incorporated, et al.", bearing
15 Number 98-6473 on the docket of the Fourteenth Judicial District for the parish of
16 Calcasieu, state of Louisiana; and all dividend and interest income and all realized
17 capital gains on investment of monies in the Millennium Trust. The treasurer shall
18 deposit in and credit to the Millennium Trust the following amounts of monies
19 received as a result of the Settlement Agreement:
20 (1) Fiscal Year 2000-2001, forty-five percent of the total monies received
21 that year.
22 (2) Fiscal Year 2001-2002, sixty percent of the total monies received that
23 year.
24 (3) Fiscal Year 2002-2003 and each fiscal year thereafter, seventy-five
25 percent of the total monies received that year. However, beginning in Fiscal Year
26 2011-2012 after the balance in the Millennium Trust reaches a total of one billion
27 three hundred eighty million dollars, the monies deposited in and credited to the
28 Millennium Trust, received by the state each fiscal year as a result of the Settlement
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1 Agreement, which shall be allocated to the various funds within the Millennium
2 Trust as provided in Subsections B, C, and D of this Section.
3 (4) For Fiscal Year 2000-2001, Fiscal Year 2001-2002, and Fiscal Year
4 2002-2003, ten percent of the total monies received in each of those years for credit
5 to the Education Excellence Fund which, notwithstanding the provisions of R.S.
6 39:98.3(A), shall be appropriated for the purposes provided in R.S. 39:98.3(C)(4).
7 B.(1) The Health Excellence Fund shall be established as a special fund
8 within the Millennium Trust. The treasurer shall credit to the Health Excellence Fund
9 one-third of the Settlement Agreement proceeds deposited each year into the
10 Millennium Trust and one-third of all dividend and interest income and all realized
11 capital gains on investment of monies in the Millennium Trust.
12 (2) Beginning Fiscal Year 2011-2012, and each fiscal year thereafter, the
13 treasurer shall credit to the Health Excellence Fund one-third of all dividend and
14 interest income and all realized capital gains on investment of monies in the
15 Millennium Trust.
16 (3) (2) Beginning July 1, 2012, after After allocation of money to the Bond
17 Security and Redemption Fund as provided in Article VII, Section 9(B) of the
18 Constitution of Louisiana, the treasurer shall deposit in and credit to the Health
19 Excellence Fund the revenues derived from the tax imposed by R.S. 47:841(B)(3).
20 C.(1) The Education Excellence Fund shall be established in the state
21 treasury as a special fund within the Millennium Trust. The treasurer shall credit to
22 the Education Excellence Fund one-third of the Settlement Agreement proceeds
23 deposited into the Millennium Trust and one-third of all dividend and interest
24 income and all realized capital gains on investment of monies in the Millennium
25 Trust.
26 (2) Beginning Fiscal Year 2011-2012, and each fiscal year thereafter, the
27 treasurer shall credit to the Education Excellence Fund one-third of all dividend and
28 interest income and all realized capital gains on investment of monies in the
29 Millennium Trust.
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1 D.(1) The TOPS Fund shall be established in the state treasury as a special
2 fund within the Millennium Trust. The treasurer shall credit to the TOPS Fund one-
3 third of the Settlement Agreement proceeds deposited into the Millennium Trust and
4 one-third of all dividend and interest income and all realized capital gains on
5 investment of monies in the Millennium Trust.
6 (2) Beginning Fiscal Year 2011-2012, and each fiscal year thereafter, the
7 treasurer shall credit to the TOPS Fund one hundred percent of the Settlement
8 Agreement proceeds deposited into the Millennium Trust and one-third of all
9 dividend and interest income and all realized capital gains on investment of monies
10 in the Millennium Trust.
11 (3) Upon the effective date of this Section, the state treasurer shall deposit,
12 transfer, or otherwise credit funds in an amount equal to such Settlement Agreement
13 proceeds deposited in and credited to the Millennium Trust received by the state
14 between April 1, 2011, and the effective date of this Section to the TOPS Fund.
15 * * *
16 §98.4. Louisiana Fund
17 A. There shall be established in the state treasury as a special fund the
18 Louisiana Fund, hereinafter the "Fund". After allocation of money to the Bond
19 Security and Redemption Fund as provided in Article VII, Section 9(B) of the
20 Constitution of Louisiana, the treasurer shall deposit in and credit to the Fund all
21 money remaining after deposit of monies into the Millennium Trust, which is
22 received as a result of the Master Settlement Agreement, hereinafter the "Settlement
23 Agreement", executed November 23, 1998, and approved by Consent Decree and
24 Final Judgment entered in the case "Richard P. Ieyoub, Attorney General, ex rel.
25 State of Louisiana v. Philip Morris, Incorporated, et al.", bearing Number 98-6473
26 on the docket of the Fourteenth Judicial District for the parish of Calcasieu, state of
27 Louisiana; and all interest income on investment of monies in the Fund. Monies in
28 the Fund shall be invested by the treasurer in the same manner as monies in the state
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1 general fund. All unencumbered and unexpended monies in the Fund at the end of
2 the fiscal year shall remain in the Fund.
3 * * *
4 F. Any proposal by the governor for expenditure of monies from the Fund
5 shall be itemized separately within the executive budget and shall include a
6 description of the proposed uses and programmatic impacts of such expenditures.
7 Any change to the purposes of the fund or to any proposal for the expenditure of
8 monies from the fund shall be reviewed by the attorney general who shall report to
9 the legislature on the effect of such change on the state's enforcement obligations
10 pursuant to the Settlement Agreement.
11 * * *
12 §100.116. Dedication of mineral revenues
13 A. All mineral revenues as defined in Subsection D of this Section received
14 in each fiscal year by the state as a result of the production of or exploration for
15 minerals, hereinafter referred to as mineral revenues, shall be allocated as provided
16 in this Section after the following allocations and deposits of mineral revenues have
17 been made:
18 (1) To the Bond Security and Redemption Fund as provided by Article VII,
19 Section 9(B) of the Constitution of Louisiana.
20 (2) To the political subdivisions of the state as provided in Article VII,
21 Sections 4(D) and (E) Section 8(B) and (C) of the Constitution of Louisiana and R.S.
22 47:645.
23 (3) To the Louisiana Wildlife and Fisheries Conservation Fund as provided
24 by the requirements of Article VII, Section 10-A 24 of the Constitution of Louisiana
25 and R.S. 47:324, R.S. 56:799 and 799.3.
26 * * *
27 (9) To the Louisiana Education Quality Trust Fund and Louisiana Quality
28 Education Support Fund as provided in Article VII, Section 10.1 20 of the
29 Constitution of Louisiana.
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1 (10) To the Coastal Protection and Restoration Fund as provided in Article
2 VII, Section 10.2 17 of the Constitution of Louisiana and R.S. 49:214.5.4.
3 * * *
4 (12) To the Budget Stabilization Fund as provided in Article VII, Section
5 10.3 15 of the Constitution of Louisiana and R.S. 39:94.
6 * * *
7 B. After the allocations and deposits provided in Subsection A of this
8 Section, the mineral revenues received in each year in excess of six hundred sixty
9 million dollars and less than nine hundred fifty million dollars shall be allocated as
10 follows:
11 (1) Thirty percent shall be appropriated to the Louisiana State Employees'
12 Retirement System and the Teachers' Retirement System of Louisiana for application
13 to the balance of the unfunded accrued liability of such systems existing as of June
14 30, 1988, in proportion to the balance of such unfunded accrued liability of each such
15 system, until such unfunded accrued liability has been eliminated. Any such
16 payments to the public retirement systems shall not be used, directly or indirectly,
17 to fund cost-of-living increases for such systems.
18 (2) The remainder shall be deposited into the Revenue Stabilization Trust
19 Fund.
20 C. Mineral revenues in excess of the base which would otherwise be
21 deposited into the Budget Stabilization Fund under R.S. 39:94(A)(2), but are
22 prohibited from being deposited into the fund under R.S. 39:94(C)(5), shall be
23 distributed as follows:
24 (1) Thirty percent shall be appropriated to the Louisiana State Employees'
25 Retirement System and the Teachers' Retirement System of Louisiana for application
26 to the balance of the unfunded accrued liability of such systems existing as of June
27 30, 1988, in proportion to the balance of such unfunded accrued liability of each such
28 system, until such unfunded accrued liability has been eliminated. Any such
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1 payments to the public retirement systems shall not be used, directly or indirectly,
2 to fund cost-of-living increases for such systems.
3 (2) The remainder shall be deposited into the Revenue Stabilization Trust
4 Fund.
5 D. For purposes of this Section, "mineral revenues" shall include severance
6 taxes, royalty payments, bonus payments, or rentals, with the following exceptions:
7 (1) Revenues designated as nonrecurring, pursuant to Article VII, Section
8 10(B) of the Constitution of Louisiana.
9 (2) Revenues received by the state as a result of grants or donations when the
10 terms or conditions thereof require otherwise.
11 (3) Revenues derived from any tax on the transportation of minerals.
12 * * *
13 Section 3. R.S. 39:100.112 is hereby amended and reenacted to read as follows:
14 §100.112. Revenue Stabilization Trust Fund
15 A. There is hereby established in the state treasury a special trust fund, the
16 Revenue Stabilization Trust Fund, hereinafter referred to as the "fund".
17 B. After allocation of money to the Bond Redemption and Security Fund as
18 provided in Article VII, Section 9(B) of the Constitution of Louisiana, the treasurer
19 shall deposit in and credit to the fund the revenues as provided for in Subsections C
20 and D of this Section. Monies in the fund shall be used only if in any fiscal year
21 revenues received from corporation income tax collections, as recognized by the
22 Revenue Estimating Conference, fall below eight hundred million dollars. In such
23 event, the legislature may appropriate from the fund amounts that in the aggregate
24 do not to exceed the difference between actual corporation income tax collections
25 and eight hundred million dollars.
26 C. The treasurer shall deposit into the fund the amount of mineral revenues
27 as provided in R.S. 39:100.116. All unexpended and unencumbered monies in the
28 fund at the end of the fiscal year shall remain in the fund.
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1 D. The treasurer shall deposit into the fund the amount of revenues in excess
2 of six hundred million dollars received each fiscal year from corporate franchise and
3 income taxes as recognized by the Revenue Estimating Conference.
4 E. D.(1) Except as provided for in Subsection F of this Section, monies
5 Monies deposited into the Revenue Stabilization Trust Fund shall be permanently
6 credited to the trust fund and shall be invested by the treasurer in the same manner
7 as investments of the Millennium Trust, as provided in R.S. 39:98.2. monies in the
8 state general fund.
9 (2) The treasurer shall deposit all interest or other income from investment
10 on of monies in the fund into the state general fund.
11 F.(1) Except as provided in Paragraphs (2) and (3) of this Subsection, no
12 appropriations shall be made from the Revenue Stabilization Trust Fund.
13 (2)(a) In any fiscal year in which the balance of the fund at the beginning of
14 the year is in excess of five billion dollars, hereinafter referred to as the minimum
15 fund balance, the legislature may appropriate an amount not to exceed ten percent
16 of the fund balance, hereinafter referred to as the allowable percentage, for the
17 following:
18 (i) Capital outlay projects in the comprehensive state capital budget.
19 (ii) Transportation infrastructure.
20 (b) The minimum fund balance or the allowable percentage may be changed
21 by a law enacted by two-thirds of the elected members of each house of the
22 legislature.
23 (c) Notwithstanding any provision of this Paragraph to the contrary, for
24 Fiscal Year 2024-2025, the minimum fund balance shall equal two billion two
25 hundred million dollars and the allowable percentage shall equal thirty-three percent.
26 (3) In order to ensure the money in the fund is available for appropriation in
27 an emergency, the legislature may authorize an appropriation from the fund at any
28 time for any purpose pursuant to a concurrent resolution adopted by a favorable vote
29 of two-thirds of the elected members of each house of the legislature. If the
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1 legislature is not in session, the two-thirds consent requirement shall be obtained as
2 provided in R.S. 39:87.
3 Section 4. R.S. 49:214.5.4(B) through (J) are hereby amended and reenacted to read
4as follows:
5 §214.5.4. Funding and resource allocation
6 * * *
7 B. Of all mineral revenues received in each fiscal year by the state including
8 those received as a result of the production of or exploration for minerals, hereinafter
9 referred to as mineral revenues from severance taxes, royalty payments, bonus
10 payments, or rentals, and excluding federal revenues received as provided in
11 Subsection E D of this Section and such revenues received by the state as a result of
12 grants or donations when the terms or conditions thereof require otherwise, the
13 treasurer shall make the following allocations:
14 (1) To the Bond Security and Redemption Fund as provided in Article VII,
15 Section 9(B) of the Constitution of Louisiana.
16 (2) To the political subdivisions of the state as provided in Article VII,
17 Sections 4(D) and (E) Section 8(B) and (C) of the Constitution of Louisiana.
18 (3) As provided by the requirements of Article VII, Sections 10-A and 10.1
19 20 and 24 of the Constitution of Louisiana.
20 C. After making the allocations provided for in Subsection B of this Section,
21 the treasurer shall then deposit in and credit to the Coastal Protection and Restoration
22 Fund any an amount of mineral revenues that may be necessary to ensure that a total
23 of five equal to twenty-five million dollars is deposited into such fund for the fiscal
24 year from this source; dollars, which shall be adjusted by an amount equal to the
25 percentage increase in the Consumer Price Index United States city average for all
26 urban consumers (CPI-U), as reported by the United States Department of Labor,
27 Bureau of Labor Statistics, or its successor, for the previous calendar year provided
28 that the balance of the fund which consists of mineral revenues from severance taxes,
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1 royalty payments, bonus payments, or rentals shall not exceed the amount provided
2 in Subsection F E of this Section.
3 D. After making the allocations and deposits as provided for in Subsections
4 B and C of this Section, the treasurer shall deposit in and credit to the fund as
5 follows:
6 (1) Two percent of the mineral revenues received in excess of the allocations
7 provided for in Subsections B and C of this Section. The treasurer shall reduce the
8 deposit made pursuant to this Paragraph by the amount of deposits made pursuant
9 to Paragraphs (2) and (3) of this Subsection.
10 (2) Ten million dollars of the mineral revenues in excess of six hundred
11 million dollars which remain after the allocations provided for in Subsection B of
12 this Section are made by the treasurer.
13 (3) Ten million dollars of the mineral revenues in excess of six hundred fifty
14 million dollars which remain after the allocations provided in Subsection B of this
15 Section are made by the treasurer.
16 E.(1) Subject to Article VII, Sections 9(B) and 10.1 and 24 of the
17 Constitution of Louisiana, in each fiscal year, the federal revenues that are received
18 by the state generated from Outer Continental Shelf energy production, including but
19 not limited to oil and gas activity, wind energy, solar energy, tidal energy, wave
20 energy, geothermal energy, and other alternative or renewable energy production or
21 sources, and eligible, as provided by federal law, to be used for the purposes
22 provided in this Subsection shall be deposited and credited by the treasurer to the
23 Coastal Protection and Restoration Fund.
24 (2) Such federal revenues shall be used only for the purposes of integrated
25 coastal protection, including but not limited to coastal wetlands conservation, coastal
26 restoration, hurricane protection, or for infrastructure directly impacted by coastal
27 wetlands losses.
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1 (3) In each year, no more than ten percent of the federal revenues received
2 by the state generated from Outer Continental Shelf energy production may be used
3 for the purposes of infrastructure directly impacted by coastal wetlands losses.
4 (4) In each fiscal year, at least two hundred thousand dollars but no more
5 than seven percent of the federal revenues received by the state generated from Outer
6 Continental Shelf energy production may be used for administrative costs or fees.
7 The provisions of this Paragraph shall not apply to the following:
8 (a) Any revenues received by the state pursuant to 43 U.S.C. 1337(g), also
9 known as "8(g)" funds.
10 (b) Any securitization or other monetizing of all or any portion of the federal
11 revenues received by the state generated from Outer Continental Shelf energy
12 production.
13 (c) Any monies received by the state for reimbursement of costs in response
14 to the Deepwater Horizon oil spill.
15 (5)(a) Beginning with Fiscal Year 2022, a portion of the total federal
16 revenues received by the state generated from Outer Continental Shelf energy
17 production shall be allocated solely for hurricane protection projects, including
18 operation and maintenance, that are included in or consistent with the master plan
19 as follows:
20 (i) For Fiscal Years 2022 through 2024, a minimum of forty percent.
21 (ii) For Fiscal Years 2025 through 2027, a minimum of forty-five percent.
22 (iii) For Fiscal Year 2028 and subsequent fiscal years, a minimum of fifty
23 percent.
24 (b) If the total federal revenues received by the state generated from Outer
25 Continental Shelf energy production are less than one hundred million dollars in any
26 fiscal year, then the minimum allocations contained in Subparagraph (a) of this
27 Paragraph shall not apply.
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1 (c) The authority may offset the funds allocated for hurricane protection
2 projects as provided in Subparagraph (a) of this Paragraph with funds from other
3 available sources.
4 (d) In the event the authority is unable to meet the allocations as provided
5 in Subparagraph (a) of this Paragraph in any fiscal year, the authority may modify
6 the allocation for that fiscal year. No modification shall be made without prior
7 approval of the board and the Joint Legislative Committee on the Budget.
8 (e) Any revenues received by the state as provided in this Paragraph and
9 allocated to a levee district shall only be utilized by a levee district for construction,
10 and operations and maintenance of hurricane protection projects.
11 F. E. The money in the fund shall be invested as provided by law, and any
12 earnings realized on investment of money in the fund shall be deposited in and
13 credited to the fund. Revenues derived from integrated coastal protection programs,
14 projects, or activities shall be deposited in and credited to the fund. Money from
15 other sources, such as donations, appropriations, or dedications, may be deposited
16 in and credited to the fund; however, the balance of the fund which, exclusive of
17 federal revenues received as provided for in Subsection E D of this Section and state
18 revenues as provided in Subsection K J of this Section, consists of mineral revenues
19 from severance taxes, royalty payments, bonus payments, or rentals shall not exceed
20 five hundred million dollars. Any unexpended money remaining in the fund at the
21 end of the fiscal year shall be retained in the fund.
22 G. F. The money in the Coastal Protection and Restoration Fund is subject
23 to appropriations by the legislature for the purposes of integrated coastal protection.
24 The money in the fund may be used only for those projects and programs which are
25 consistent with the statement of intent, R.S. 49:214.1, and the annual plan as it
26 pertains to the integrated coastal protection and may include but not be limited to the
27 following purposes:
28 (1) Projects and structures engineered for the enhancement, creation, or
29 restoration of coastal wetlands.
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1 (2) Match for federal or local project planning, design, construction, and
2 monitoring.
3 (3) Administration and project management, planning, design, construction,
4 and monitoring.
5 (4) Operation and maintenance of structural projects consistent with the
6 purpose of this fund.
7 (5) Vegetation planting, seeding, or other revegetation methods.
8 (6) Planning and implementation of modifications to federal, state, or local
9 flood control, navigation, irrigation, or enhancement projects.
10 (7) For coastal wetlands conservation, coastal restoration, coastal zone
11 management, hurricane protection, and infrastructure directly impacted by coastal
12 wetlands losses.
13 (8) The administration and operation of the Coastal Protection and
14 Restoration Authority, the Coastal Protection and Restoration Authority Board, the
15 Governor's Advisory Commission on Coastal Protection, Restoration, and
16 Conservation, and the Coastal Protection and Restoration Financing Corporation.
17 (9) Projects and programs promoting scientific, technical, and engineering
18 advancements for the sustainability of coastal Louisiana and ensuring that the best
19 available scientific and technical information and tools are available for the
20 implementation of the master plan and annual plan.
21 (10) Payment of debt service or other payment obligations required in
22 connection with bonds or other debt obligations of the Coastal Protection and
23 Restoration Authority.
24 H. G. As used in this Section, the term "balance of the fund" shall mean
25 those monies in the fund which have not been expended or obligated under the plan
26 approved pursuant to R.S. 49:214.5.3, or otherwise obligated in accordance with law.
27 I. H.(1) Any monies received by the state for violations pursuant to section
28 311 of the Federal Water Pollution Control Act, 33 U.S.C. 1321; R.S. 30:2025(E)(1)
29 and (2); and R.S. 30:2001 et seq., including R.S. 30:2071 et seq., associated with the
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1 Deepwater Horizon oil spill that began on April 20, 2010, shall be deposited and
2 credited by the treasurer to the Coastal Protection and Restoration Fund for
3 integrated coastal protection efforts, including coastal restoration, hurricane
4 protection, and improving the resiliency of the Louisiana Coastal Area affected by
5 the Deepwater Horizon oil spill.
6 (2) Nothing in this Subsection shall be construed as affecting funds
7 associated with the Natural Resources Damage Assessment process.
8 J. I. The authority is authorized to create one or more construction or project
9 funds within the Coastal Protection and Restoration Fund, into which may be
10 deposited the proceeds of any bonds or other debt obligations of the authority. Such
11 construction or project funds may be maintained by the authority or any fiduciary
12 appointed in connection with the authority only for the purpose or purposes for
13 which such bonds or other debt obligations are issued. Funds held in any such
14 construction or project fund shall not be subject to the other requirements of this
15 Section.
16 K. J.(1) Subject to Article VII, Sections 9(B) and 10.1 and 24 of the
17 Constitution of Louisiana, in each fiscal year, the revenues that are received by the
18 state generated upon state lands or waterbottoms located in the coastal area from
19 alternative or renewable energy production or sources, including but not limited to
20 wind energy, solar energy, tidal energy, wave energy, and geothermal energy, shall
21 be deposited and credited by the treasurer to the Coastal Protection and Restoration
22 Fund.
23 (2) Such revenues shall be used only for the purposes of integrated coastal
24 protection, including but not limited to coastal wetlands conservation, coastal
25 restoration, hurricane protection, or for infrastructure directly impacted by coastal
26 wetlands losses.
27 (3) In each year, no more than ten percent of the revenues received by the
28 state generated upon state lands or waterbottoms located in the coastal area from
29 alternative or renewable energy production or sources, including but not limited to
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1 wind energy, solar energy, tidal energy, wave energy, and geothermal energy, may
2 be used for the purposes of infrastructure directly impacted by coastal wetlands
3 losses.
4 Section 5. R.S. 51:639.8(C) and (E)(1) are hereby amended and reenacted and R.S.
551:639.8(H) is hereby enacted to read as follows:
6 §639.8. Department of Wildlife and Fisheries; Artificial Reef Development Fund
7 * * *
8 C. There is hereby established a fund in the state treasury to be known as the
9 Artificial Reef Development Fund, hereinafter referred to as the "Reef Fund" or
10 "fund", into which the state treasurer shall each fiscal year, and beginning with the
11 1986-1987 Fiscal Year, year deposit the funds received as provided in Subsections
12 A and B of this Section, after those revenues have been deposited in the Bond
13 Security and Redemption Fund. Out of the funds remaining in the Bond Security and
14 Redemption Fund after a sufficient amount is allocated from that fund to pay all
15 obligations secured by the full faith and credit of the state that become due and
16 payable within each fiscal year, the treasurer, prior to placing such funds in the state
17 general fund, shall pay into the Reef Fund an amount equal to the funds deposited
18 by the department into the treasury as provided in Subsection B of this Section. The
19 monies in the Reef Fund shall be used solely as provided by in Subsection E herein
20 of this Section and only in the amounts appropriated by the legislature. All
21 unexpended and unencumbered monies in the Reef Fund at the end of the fiscal year
22 shall remain in the fund. The monies in the fund shall be invested by the state
23 treasurer in the same manner as monies in the state general fund, and interest earned
24 on the investment of these monies shall be credited to the fund, again, following
25 compliance with the requirement of Article VII, Section 9(B) of the Constitution of
26 Louisiana, relative to the Bond Security and Redemption Fund.
27 * * *
28 E.(1) Monies may be withdrawn directly from the Reef Fund for the
29 operation of the program as described in R.S. 56:639.5, including evaluation of the
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1 program and administrative and field support for the siting, designing, constructing,
2 permitting, establishing, monitoring, and maintenance of artificial reefs established
3 pursuant to this Subpart until such time that the council determines that the annual
4 interest earnings from the fund are sufficient to run the program.
5 * * *
6 H. The state treasurer shall prepare and submit to the department on a
7 quarterly basis a written report showing the amount of money contained in the fund
8 from all sources.
9 Section 6. R.S. 39:98.3(E), 100.116(A)(11) and (13), (C), and (D) and R.S.
1049:214.5.4(K) are hereby repealed in their entirety.
11 Section 7. R.S. 39:100.112 is hereby repealed in its entirety. The state treasurer is
12hereby authorized and directed to transfer any remaining balance in the Revenue
13Stabilization Fund to the state general fund. Monies transferred pursuant to the provisions
14of this Section shall be recognized by the Revenue Estimating Conference as nonrecurring
15revenues.
16 Section 8. R.S. 39:97 is hereby repealed in its entirety. The state treasurer is hereby
17authorized and directed to transfer any remaining balance in the Mineral Revenue Audit and
18Settlement Fund to the state general fund.
19 Section 9. The Louisiana State Law Institute is hereby authorized and directed to
20review all statutes which contain citations being changed by this Act and the Act that
21originated as House Bill No. __ of the 2025 Regular Session of the Legislature and in all
22statutory citations it deems appropriate to change such references.
23 Section 10. Upon the effective date of this Section, the state treasurer is hereby
24authorized and directed to transfer from the Revenue Stabilization Fund, into the Budget
25Stabilization Fund, an amount sufficient to bring the balance of the Budget Stabilization
26Fund equal to seven and one-half percent of the total state revenue receipts for the prior
27fiscal year. For the purposes of this Section, total state revenue receipts shall not include any
28monies received by the state from the Federal Emergency Management Agency or other
29sources providing disaster relief assistance.
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1 Section 11. The provisions of Section 7 of this Act shall take effect and become
2operative on July 1, 2029, if and when the proposed amendment of Article VII of the
3Constitution of Louisiana contained in the Act which originated as House Bill No. __ of this
42025 Regular Session of the Legislature is adopted at a statewide election and becomes
5effective.
6 Section 12. The provisions of Section 3 of this Act shall take effect and become
7operative on July 1, 2027, if and when the proposed amendment of Article VII of the
8Constitution of Louisiana contained in the Act which originated as House Bill No. __ of this
92025 Regular Session of the Legislature is adopted at a statewide election and becomes
10effective.
11 Section 13.(A) The provisions of this Section and Sections 11 and 12 shall become
12effective upon signature by the governor or, if not signed by the governor, upon expiration
13of the time for bills to become law without signature by the governor, as provided by Article
14III, Section 18 of the Constitution of Louisiana. If vetoed by the governor and subsequently
15approved by the legislature, this Act shall become effective on the day following such
16approval.
17 (B) The provisions of Sections 1, 2, 4, 5, 6, 8, 9, and 10 shall take effect and become
18operative if and when the proposed amendment of Article VII of the Constitution of
19Louisiana contained in the Act which originated as House Bill No. __ of this 2025 Regular
20Session of the Legislature is adopted at a statewide election and becomes effective.
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 599 Original 2025 Regular Session Emerson
Abstract: ABSTRACT
Oilfield Site Restoration Fund
Present law (R.S. 30:86) establishes a fund in the custody of the treasurer called the Oilfield
Site Restoration Fund. Proposed law establishes the fund as a special fund in the treasury.
Proposed law retains present law. Adds provisions requiring unexpended and unencumbered
monies at the end of the fiscal year to remain in the fund, that monies in the fund be invested
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HB NO. 599
by the treasurer in the same manner as the state general fund, and that interest earned on the
monies in the Restoration Fund be deposited into the fund. Requires the treasurer to prepare
and submit to the Dept. of Energy and Natural Resources on a quarterly basis a report
reflecting the balance of the fund.
Proposed law provides that present and proposed law do not apply to monies allocated to
parishes pursuant to proposed constitutional amendment (Art. VII, §8(B) and (C)).
Oil Spill Contingency Fund
Present law (R.S. 30:2483) creates a special fund in the state treasury called the Oil Spill
Contingency Fund in order to fulfill the constitutional mandate to protect, conserve, and
replenish the natural resources of the state. Requires the monies in the fund be used in
response to all threatened or actual unauthorized discharges of oil and for clean up. Provides
for the deposit of monies derived from all fees, taxes, penalties, judgments, reimbursements,
charges, and federal funds collected pursuant to the Oil Spill Prevention and Response Act.
Provides for the deposit, uses, and investment of the monies in the fund.
Proposed law retains present law. Adds provisions for the deposit of any monies derived
from fees, taxes, penalties, reimbursements, charges, federal funds, or other revenue enacted
by the legislature for the purposes of abatement and containment of actual or threatened
unauthorized discharges of oil. Provides for deposit of funds or revenue donated to the fund.
Provides for monies in the fund to be appropriated for administrative costs associated with
the abatement and containment of unauthorized discharges of oil.
Proposed law provides that present and proposed law do not apply to monies allocated to
parishes pursuant to proposed constitutional amendment (Art. VII, §8(B) and (C)).
Budget Stabilization Fund
Present law (R.S. 39:94) creates a special fund in the state treasury called the Budget
Stabilization Fund. Provides for deposits into the fund from all monies available for
appropriations from the state general fund in excess of the expenditure limit. Provides for
deposits into the fund from all revenues received in each fiscal year in excess of $950M,
referred to as the "base", as a result of the production or exploration of minerals. Allows the
"base" to be increased every 10 years by law enacted with a 2/3 vote of the members of the
legislature. Further provides for deposits into the fund as follows: (1) the greater of $25M
from any source or 25% of any money designated in the official forecast as nonrecurring
revenue; (2) any additional monies appropriated by the legislature; and (3) monies received
from the federal government for the reimbursement of costs associated with a federal
disaster. Provides for uses of monies in the fund in cases of a budget deficit. Prohibits any
appropriation or deposit into the fund which would cause the balance of the fund to exceed
4% of total state revenue receipts (the cap) for the previous fiscal year.
Proposed law retains the Budget Stabilization Fund as a special fund within the state
treasury. Retains the provision requiring a deposit into the fund from all monies in excess
of the expenditure limit. Retains the uses of monies in the fund in cases of a budget deficit.
Proposed law removes the provision in present law regarding deposits in excess of $950M
of mineral revenues and the provisions regarding the increase of the "base". Proposed law
increases the cap to 7.5% of total state revenues for the previous fiscal year. Further requires
all unexpended and unencumbered monies in the fund at the end of the fiscal year to remain
in the fund. Provides that total state revenue receipts does not include any monies received
by the state from the Federal Emergency Management Agency or other sources providing
disaster relief assistance
Millennium Trust
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Present law (R.S. 39:98.1 et seq.) creates a special fund in the state treasury called the
Millennium Trust. Provides for deposits into the fund from monies received as a result of
the tobacco settlement, as well as any interest income and realized capital gains on
investment of monies in the fund. Requires 75% of the tobacco settlement funds to be
deposited into the Millennium Trust. Creates three special subfunds within the Millennium
Trust: (1) the Health Excellence Fund; (2) the Education Excellence Fund; and (3) the TOPS
Fund. Provides for the investment and use of monies in the fund. Proposed law makes
technical changes and otherwise retains present law.
Louisiana Fund
Present law (R.S. 39:98.4) creates a special fund in the state treasury called the Louisiana
Fund. Provides for the remaining monies from the tobacco settlement (25%) after the
deposit into the Millennium Trust, and all interest income. Provides for monies in the fund
to be invested in the same manner as the state general fund. Provides for all unencumbered
and unexpended monies in the fund to remain in the fund. Provides for appropriations from
the fund not to exceed 50% of the total amount of monies appropriated from the fund in any
fiscal year. Provides for purposes of appropriations from the fund. Proposed law retains
present law.
Proposed law further provides for all unencumbered and unexpended monies in the fund at
the end of the fiscal year to remain in the fund. Requires any change to the purposes of the
fund or to any proposal for the expenditure of monies from the fund to be reviewed by the
attorney general who shall report to the legislature on the effect of such change on the state's
enforcement obligations pursuant to the tobacco settlement agreement.
Dedication of Mineral Revenues
Present law (R.S. 39:100.116) provides for the dedication of mineral revenues to 13 separate
funds, to the Louisiana State Employees' Retirement System and the Teachers' Retirement
System of Louisiana, and to the Revenue Stabilization Trust Fund.
Proposed law repeals the dedication of mineral revenues to the following: the Mineral
Revenue Audit and Settlement Fund, the Transportation Trust Fund, the Revenue
Stabilization Trust Fund, the Louisiana State Employees' Retirement System, and the
Teachers' Retirement System of Louisiana. Retains the provisions in present law related to
the dedication of mineral revenues to the Bond Security and Redemption Fund, the political
subdivisions of the state, the Louisiana Wildlife and Fisheries Conservation Fund, the Oil
and Gas Regulatory Dedicated Fund Account, the Rockefeller Wildlife Refuge and Game
Preserve Fund, the Marsh Island Operating Fund, the Russell Sage or Marsh Island Refuge
Fund, the MC Davis Conservation Fund, the White Lake Property Fund, the Louisiana
Qaulity Education Trust Fund, the Louisiana Quality Education Support Fund, the Coastal
Protection and Restoration Fund, and the Budget Stabilization Fund.
Revenue Stabilization Trust Fund
Present law (R.S. 39:100.112) creates a special fund in the state treasury called the Revenue
Stabilization Trust Fund. Deposits into the fund derive from mineral revenues, as provided
by law, and revenues in excess of $600M from corporate franchise and income tax. Further
provides for allowable uses of monies in the fund when the balance is in excess of $5B.
Appropriations may be made from the fund in an amount not to exceed 10% of the fund
balance for: (1) capital outlay projects and (2) transportation infrastructure. Allows for the
minimum fund balance and the allowable percentage to be changed by law enacted with a
2/3 vote of the legislature. Provides for uses of monies in the fund during an emergency.
Proposed law retains the special fund in the state treasury, but changes the name to the
Revenue Stabilization Fund. Removes all other present law provisions.
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Proposed law directs the state treasurer to transfer monies from the Revenue Stabilization
Fund to the Budget Stabilization Fund in an amount sufficient to bring the balance of the
Budget Stabilization Fund equal to the 7.5% cap.
Proposed law authorizes monies in the fund to be used when revenues from corporate
income tax collections fall below $800M. Allows the legislature to appropriate an amount
not to exceed the difference between the actual corporate income tax collections and $800M.
Provides that unexpended and unencumbered monies in the fund at the end of the fiscal year
remain in the fund.
Proposed law will be repealed on July 1, 2029. Upon repeal, proposed law directs the
treasurer to transfer any remaining monies in the fund to the state general fund, which shall
then be recognized as nonrecurring revenues.
Coastal Protection and Restoration Fund
Present law (R.S. 49:214.5.4) creates a special fund in the state treasury called the Coastal
Protection and Restoration Fund. Provides for deposit, use, and investment of monies in the
fund.
Proposed law requires the treasurer to deposit $25 M of mineral revenues into the fund each
fiscal year. Further provides that this amount will be adjusted by the percentage increase in
the Consumer Price Index United States city average for all urban consumers (CPI-U) for
the previous calendar year.
Repeals provisions in present law related to caps on deposits of mineral revenues into the
fund. Proposed law makes technical changes and otherwise retains present law.
Artificial Reef Development Fund
Present law (R.S. 51:639.8) creates a special fund in the state treasury called the Artificial
Reef Development Fund. Provides for deposit, use, and investment of monies in the fund.
Proposed law adds siting, designing, and constructing of artificial reefs as an allowable use
of monies in the fund. Requires the state treasurer to submit an annual report to the Dept. of
Wildlife and Fisheries containing a statement of monies in the fund. Proposed law otherwise
retains present law.
Repealed Funds
Present law (R.S. 39:97) creates a special fund in the state treasury called the Mineral
Revenue Audit and Settlement Fund. Provides for the deposit, use, and investment of
monies in the fund. Proposed law repeals the Mineral Revenue Audit and Settlement Fund
and directs the state treasurer to transfer any balance in the fund to the state general fund.
Louisiana State Law Institute
Proposed law authorizes and directs the law institute to review all statutes which contain
citations being changed by proposed law and the Act that originated as House Bill No. __
of the 2025 Regular Session and to make corrections as necessary.
Effectiveness
Except as noted below, repealed provisions of law and all other sections of this bill become
effective if and when the proposed amendment of Art. VII of the Constitution of La. that
originated as House Bill No. __ of the 2025 Regular Session of the Legislature is adopted
at a statewide election and becomes effective.
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Proposed law regarding the Revenue Stabilization Fund shall become effective on July 1,
2027 if the proposed amendment of Art. VII of the Constitution of La. that originated as
House Bill No. __ of the 2025 Regular Session of the Legislature is adopted at a statewide
election and becomes effective. The repeal of the Revenue Stabilization Fund becomes
effective on July 1, 2029.
(Amends R.S. 30:86(A)(1) and 2483(B) through (E), R.S. 39:94(A), (B), and (C)(5), 98.1,
98.4(A) and (F), 100.116(A)(1) through (3), (9), (10), and (12) and (B), and 100.112, R.S.
49:214.5.4(B) through (J), and R.S. 51:639.8(C) and (E)(1); Adds R.S. 30:86(I) through (K)
and 2483(F) and (G) and R.S. 51:639.8(H); Repeals R.S. 39:98.3(E), 100.116(A)(11) and
(13), (C), and (D) and R.S. 49:214.5.4(K))
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