Bill Summary – FastDemocracy

GREEN SHEET REDIGEST
HB 786                             2024 Regular Session                          McFarland
FUNDS/FUNDING: Provides for the transfer, deposit, and use of monies among state
funds.
                                          DIGEST
Proposed law transfers 25% of the FY 2022-2023 surplus ($81,359,358) to the Budget
Stabilization Fund.
Proposed law transfers $15,000,000 from the state general fund by fees and self-generated
revenues of the Dept. of Insurance to the La. Fortify Homes Program Fund in the current
fiscal year.
Proposed law transfers the following amounts between statutorily dedicated funds in the
current fiscal year:
(1)    $500,000 from the Small Business Innovation Recruitment Fund to the Small
       Business Innovation Retention Fund.
(2)    $10,000,000 from the Major Events Fund to the Major Events Incentive Fund.
(3)    $54,261 from the Scenic Rivers Fund to the Conservation Fund.
(4)    $197,328 from the Natural Heritage Account to the Conservation Fund.
(5)    $2,900,000 from the Water Sector Fund to the Main Street Recovery Rescue Plan
       Fund.
(6)    $2,900,000 from the Main Street Recovery Fund to the Water Sector Fund.
Proposed law transfers the following amounts from the state general fund in the current fiscal
year:
(1)    $10,000,000 to the Voting Technology Fund.
(2)    $16,000,000 to the La. Economic Development Fund.
(3)    $500,000 to the Small Business Innovation Retention Fund.
(4)    $46,800,000 to the Transportation Trust Fund - Regular.
(5)    $7,000,000 to the La. State Parks Improvement and Repair Dedicated Fund Account.
(6)    $5,000,000 to the La. Agricultural Finance Authority Fund.
(7)    $8,000,000 to the Riverboat Gaming Enforcement Fund.
(8)    $1,000,000 to the La. Outdoors Forever Fund.
(9)    $117,800,000 to the Capital Outlay Savings Fund.
(10)   $40,000,000 to the Overcollections Fund.
(11)   $20,000,000 to the Louisiana Mega-Project Development Fund.
(12)   $100,000 to the Louisiana Military Family Assistance Fund.
                                       Page 1 of 4
                              Prepared by Chas Nichols.
(13)   $1,000,000 to the Dyslexia Fund contingent upon the enactment of SB 440 of the
       2024 Regular Session.
(14)   $1,000,000 to the Postsecondary Inclusive Education Fund.
Proposed law transfers the following amounts in the current fiscal year:
(1)    $7,347,006 from the Louisiana Rescue Plan Fund to the Water Sector Fund.
(2)    $3,500,000 from the Louisiana Transparency Fund to the State General Fund
       (Direct).
(3)    $5,008,881 from the Events Incentive Fund to the Major Events Incentive Fund
       contingent upon the enactment of SB 341 of the 2024 Regular Session.
Proposed law authorizes the treasurer to deposit into the Overcollections Fund revenues in
the state general fund amount equal to the amount of the State General Fund (Direct) for each
line item appropriation in the Act that originated as HB 782 of the 2024 Regular Session that
has a State General Fund (Direct) appropriation that is vetoed by the governor and that is not
overriden by the legislature.
Proposed law authorizes the treasurer to deposit into the Overcollections Fund revenues in
the state general fund amount equal to the amount of the State General Fund (Direct) for each
line item appropriation in the Act that originated as HB 1 of the 2024 Regular Session that
has a State General Fund (Direct) appropriation that is vetoed by the governor and that is not
overriden by the legislature.
Proposed law provides for additional uses of the monies in the La. Early Childhood
Education Fund. Allows for appropriations out of the La. Early Childhood Education Fund
to the LA-4 Program.
Proposed law provides for additional uses of monies in the Court Modernization and
Technology Fund. Allows for appropriations out of the Court Modernization and Technology
Fund in order to serve statewide judicial technology projects, including a supreme court
integrated case management system and a centralized online judicial portal for data collection
and electronic payment submission.
Proposed law establishes the Therapeutic Marijuana Fund as a special fund in the treasury.
Requires monies in the fund to be invested in the same manner as monies in the state general
fund and that interest earned on investment of monies in the Therapeutic Marijuana Fund are
to be credited to the Therapeutic Marijuana Fund. Provides that monies in the fund shall be
appropriated as follows:
(1)    $2,000,000 or 2%, whichever is greater, to be split evenly between the Louisiana
       State University Agricultural Center and the Southern University Agricultural Center.
(2)    The remainder to the Dept. of Public Safety and Corrections, office of state police.
Proposed law repeals present law (R.S. 24:586) establishing the Louisiana Transparency
Fund.
Proposed law establishes that the Therapeutic Marijuana Fund is effective if and when the
Act which originated as Senate Bill No. 228 of the 2024 Regular Session of the Legislature
is enacted and becomes effective. All other provisions of proposed law are effective upon
signature of governor or lapse of time for gubernatorial action.
Effective upon signature of the governor or lapse of time for gubernatorial action, except that
transfers for FY 2024-2025 are effective July 1, 2024.
(Amends R.S. 17:407.30(D)(1)(a), (E), (F), and (G); Adds R.S. 17:407.30(H), R.S.
39:100.211, and R.S. 40:1046.5; Repeals R.S. 24:586)
                                        Page 2 of 4
                               Prepared by Chas Nichols.
Summary of Amendments Adopted by House
   The Committee Amendments Proposed by House Committee on Appropriations to the
         original bill:
   1.     Make various transfers from the state general fund and between other special
          treasury funds in the current fiscal year.
   2.     Transfer monies from fees and self-generated revenues to the La. Fortify Homes
          Program Fund.
   3.     Amend the use of monies in the La. Early Childhood Education Fund.
   4.     Establish the Therapeutic Marijuana Fund and provide for uses of monies in the
          fund.
   5.     Repeal the Louisiana Transparency Fund.
   6.     Make technical changes.
   The House Floor Amendments to the engrossed bill:
   1.     Increase by $3.8M the state general fund transfer into the Transportation Trust
          Fund - Regular.
   2.     Remove the transfer of $10M state general fund into the State Emergency
          Response Fund.
   3.     Transfer $10M state general fund into the Overcollections Fund.
   4.     Provide for uses of the Court Modernization and Technology Fund.
   5.     Make technical changes.
Summary of Amendments Adopted by Senate
   Committee Amendments Proposed by Senate Committee on Finance to the reengrossed
        bill
   1.     Increase by $6,000,000 the transfer of state general fund into the Louisiana
          Economic Development Fund.
   2.     Decrease by $37,000,000 the transfer of state general fund into the Transportation
          Trust Fund - Regular.
   3.     Increase by $107,800,000 the transfer of state general fund into the Capital
          Outlay Savings Fund.
   4.     Increase by $25,000,000 the transfer of state general fund into the
          Overcollections Fund.
   5.     Transfer $20,000,000 of state general fund into the Louisiana Mega-Project
          Development Fund.
   6.     Transfer $3,500,000 from the Louisiana Transparency Fund to the state general
          fund.
   7.     Transfer $100,000 from the state general fund to the Louisiana Military Family
          Assistance Fund.
                                     Page 3 of 4
                            Prepared by Chas Nichols.
8.    Transfer $1,000,000 from the state general fund into the Dyslexia Fund
      contingent upon the enactment of SB 440 of the 2024 Regular Session.
9.    Transfer $1,000,000 into the Postsecondary Inclusive Education Fund.
10.   Transfer 5,008,881 from the Events Incentive Fund into the Major Events
      Incentive Fund, contingent upon the enactment of SB 341 of the 2024 Regular
      Session.
11.   Authorize and direct the state treasurer to transfer into the Overcollections Fund
      from the revenues in state general fund an amount equal to the appropriation in
      State General Fund (Direct) for each line item appropriation in the Act that
      originated as HB 782 of the 2024 Regular Session that has a State General Fund
      (Direct) appropriation that is vetoed by the governor and that is not overridden.
12.   Authorize and direct the state treasurer to transfer into the Overcollections Fund
      from the revenues in state general fund an amount equal to the appropriation in
      State General Fund (Direct) for each line item appropriation in the Act that
      originated as HB 1 of the 2024 Regular Session that has a State General Fund
      (Direct) appropriation that is vetoed by the governor and that is not overridden.
13.   Changes the effective date of sections of the bill that transfer funds in FY 2025
      to July 1, 2024.
14.   Make technical and conforming changes.
                                 Page 4 of 4
                        Prepared by Chas Nichols.
Statutes affected: 
HB786 Engrossed: 17:30(D)(1), 40:1046(H)
HB786 Reengrossed: 17:30(D)(1), 40:1046(H)
HB786 Enrolled: 39:52(B), 39:62(B)(1), 39:121(B)(1), 49:259(B)(1)
HB786 Act 723: 39:52(B), 39:62(B)(1), 39:121(B)(1), 49:259(B)(1)