LEGISLATIVE FISCAL OFFICE
Fiscal Note
Fiscal Note On: HB 788 HLS 24RS 1040
Bill Text Version: ENROLLED
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: May 21, 2024 9:22 AM Author: ZERINGUE
Dept./Agy.: Treasury
Subject: Hurricane Ida Recovery Fund Analyst: Tanesha Morgan
FUNDS/FUNDING EN NO IMPACT See Note Page 1 of 1
Relative to the Hurricane Ida Recovery Fund
Present law establishes the fund and provides for deposit, use, and investment of monies in the fund. Proposed law retains
present law. Present law requires the state treasurer to administer a program for distribution of these funds to eligible
entities. Further defines eligible entity as a political subdivision of the state, including school boards. Proposed law retains
present law. Present law requires the monies in the fund to be used to compensate eligible entities for property loss or
damage caused by Hurricane Ida (Aug. 29, 2021) if the eligible entity was not fully compensated for such loss by insurance
and other federal and state disaster resources. Proposed law removes the requirement that the qualifying loss or damage
be related to property. Present law authorizes any monies from the fund held by an eligible entity in excess of amounts
needed to compensate for its qualifying loss or damage to use the remaining funds on expenses incurred since Hurricane Ida
on certain enumerated types of projects, including but not limited to flood control, parks, and water supply and distribution.
Proposed law repeals present law.
EXPENDITURES 2024-25 2025-26 2026-27 2027-28 2028-29 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0 $0
REVENUES 2024-25 2025-26 2026-27 2027-28 2028-29 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0 $0
EXPENDITURE EXPLANATION
There is no anticipated direct material effect on governmental expenditures as a result of this measure.
The bill broadens what the Hurricane Ida Recovery Fund monies can be used for by eligible entities, while removing the
current authorization to use excess funds on specified projects. Broadening the allowable uses of the existing Hurricane Ida
Recovery Fund monies may lead to those funds being depleted more quickly by eligible entities.
REVENUE EXPLANATION
There is no anticipated direct material effect on governmental revenues as a result of this measure.
Senate Dual Referral Rules House
13.5.1 >= $100,000 Annual Fiscal Cost {S & H} 6.8(F)(1) >= $100,000 SGF Fiscal Cost {H & S}
Patrice Thomas
13.5.2 >= $500,000 Annual Tax or Fee 6.8(G) >= $500,000 Tax or Fee Increase
Change {S & H} or a Net Fee Decrease {S} Deputy Fiscal Officer


Statutes affected:
HB788 Original: 39:171(C)
HB788 Engrossed: 39:171(C)
HB788 Enrolled: 39:171(C)
HB788 Act : 39:171(C)