This bill amends several sections of Louisiana law to enhance the management and allocation of treasury funds, introducing new funds such as the Criminal Justice and First Responder Fund, the Higher Education Campus Revitalization Fund, and the Louisiana Transportation Infrastructure Fund. It allocates significant amounts, including $285,715,100 for the Highway Priority Program and $75 million for the College and University Deferred Maintenance and Capital Improvement Fund. The bill also allows for the retention of unexpended and unencumbered funds at the end of each fiscal year and increases the annual deposit cap for the Department of Justice Legal Support Fund from $10 million to $15 million. Additionally, it establishes limitations on withdrawals from the Capital Outlay Savings Fund and repeals the Louisiana Transparency Fund.

Furthermore, the bill authorizes the treasurer to transfer $10 million from the State General Fund to the Coastal Protection and Restoration Fund and allows appropriations from the Revenue Stabilization Trust Fund to address emergency conditions for the Fiscal Year 2024-2025, pending legislative approval. It repeals R.S. 24:586 entirely, indicating a significant shift in the legal framework for state finances. The bill includes staggered effective dates for its provisions, with some taking effect upon the governor's signature and others on specified future dates, facilitating a gradual transition to the new legal framework.

Statutes affected:
HB786 Engrossed: 17:30(D)(1)
HB786 Reengrossed: 17:30(D)(1)
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)