This bill enacts R.S. 24:513.5, which mandates that certain political subdivisions in Louisiana report their outstanding judgments to the legislative auditor. Specifically, any political subdivision established by statute that has total outstanding judgments exceeding $7.5 million in a given year must provide a comprehensive list of these judgments, including details such as the case caption, court, judgment date, and original amount. The legislative auditor is tasked with developing standardized reporting forms to ensure clarity and consistency in these submissions.

Additionally, the legislative auditor will compile these reports into a biennial report to be submitted to the Joint Legislative Committee on the Budget and the governor by December 1, starting in 2025. The reporting requirements will cease on January 1, 2031, and the provisions do not apply to political subdivisions created by home rule charter or governed by a police jury. The bill aims to enhance transparency and accountability regarding the financial health of political subdivisions, ultimately assisting the legislature in making informed decisions about state fund allocations.