This bill introduces several new provisions for the management and allocation of treasury funds in Louisiana, establishing new funds such as the Modernization and Security Fund, the Louisiana Economic Development Initiatives Fund, the Local Infrastructure Fund, and the Site Investment and Infrastructure Improvement Fund. It also modifies existing regulations concerning the Revenue Stabilization Trust Fund by specifying new minimum fund balances and allowable appropriation percentages. Furthermore, the bill delineates specific allocations for the Louisiana Transportation Infrastructure Fund and the Higher Education Campus Revitalization Fund for the fiscal year 2025-2026.

Additionally, the bill empowers the state treasurer to transfer unobligated balances to the Water Sector Fund, overriding any conflicting laws, and allows for appropriations from the Revenue Stabilization Trust Fund to address emergency conditions in Louisiana for the fiscal year 2025-2026. The bill outlines its effective dates, with most sections taking effect upon the governor's signature or after the designated time for bills to become law without signature, while one specific section is set to take effect on July 1, 2025. Overall, the legislation aims to improve the state's financial management and bolster critical infrastructure and economic development initiatives.

Statutes affected:
HB461 Original:
HB461 Engrossed: