This bill introduces several new provisions aimed at enhancing the management and allocation of treasury funds in Louisiana. It establishes new funds, including the Modernization and Security Fund, the Louisiana Economic Development Initiatives Fund, the Local Infrastructure Fund, and the Site Investment and Infrastructure Improvement Fund. Additionally, it modifies existing funds such as the Revenue Stabilization Trust Fund by adjusting the minimum fund balance and allowable percentages for appropriations. The bill also specifies allocations for the Louisiana Transportation Infrastructure Fund and the Higher Education Campus Revitalization Fund for the fiscal year 2025-2026, while authorizing the state treasurer to make transfers from the State General Fund and other funds to support these initiatives.

Furthermore, the bill allows the state treasurer to transfer unobligated balances to the Water Sector Fund, overriding any conflicting provisions of law, and permits appropriations from the Revenue Stabilization Trust Fund to address emergency conditions for the Fiscal Year 2025-2026. It mandates the development of guidelines for the administration of the Local Infrastructure Fund and requires quarterly reporting on expenditures. The effective dates of the bill indicate that most sections will take effect upon the governor's signature or after the designated time for bills to become law without a signature, with one specific section set to become effective on July 1, 2025.

Statutes affected:
HB461 Original:
HB461 Engrossed: