House Bill No. by Representative Beaullieu amends R.S. 39:100.121(B)(1) concerning the Capital Outlay Savings Fund. The bill stipulates that funds in this account can only be utilized for capital outlay projects, with a significant change that no withdrawals can be made unless there is a specific appropriation enacted by the legislature. This amendment aims to impose stricter limitations and restrictions on the withdrawal of funds from the Capital Outlay Savings Fund, ensuring that any access to these funds is legislatively approved.

The bill will take effect upon the governor's signature or, if not signed, after the designated period for bills to become law without a signature. If the governor vetoes the bill but it is later approved by the legislature, it will become effective the day after that approval. This legislative change is intended to enhance fiscal responsibility and oversight regarding the use of capital outlay funds.

Statutes affected:
HB162 Original: 39:121(B)(1)
HB162 Engrossed: 39:121(B)(1)
HB162 Enrolled: 39:121(B)(1)