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, allowing for adjustments in minimum fund balances and appropriations percentages. Specific allocations are designated 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 execute multiple transfers from the State General Fund to various funds, including significant amounts to the Budget Stabilization Fund and the Oilfield Site Restoration Fund. It includes provisions for depositing funds into the Overcollections Fund based on legislative appropriations that have been vetoed by the governor. The bill also allows for the transfer of unobligated balances to the Water Sector Fund and permits appropriations from the Revenue Stabilization Trust Fund to address emergency conditions for the fiscal year 2025-2026. Most sections of the bill will take 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 become effective on July 1, 2025.

Statutes affected:
HB461 Original:
HB461 Engrossed: