This bill establishes the framework for the allocation and distribution of the Revenue Sharing Fund in Louisiana for Fiscal Year 2025-2026, totaling $90 million. It defines "tax recipient bodies" to include local government entities such as the city of New Orleans, parish governing authorities, and school boards, while excluding certain districts in specific parishes. The distribution methodology is based on population and the number of homesteads in each parish, with the state treasurer responsible for managing the funds. The bill also addresses the reimbursement of taxes lost due to homestead exemptions, particularly for the Monroe City School Board, and sets limitations on eligible taxes for reimbursement, particularly those authorized after January 1, 1978, with exceptions for designated parishes.

Additionally, the bill outlines the distribution of excess funds collected from taxes, specifying allocation percentages for various governing bodies within each parish, including minimum amounts for certain districts. It introduces new provisions requiring legislative approval for the expenditure of excess funds in specific parishes, such as Allen, Cameron, and Evangeline. The state treasurer is mandated to distribute one-third of the allocated funds by specified deadlines, emphasizing the need for accurate reporting and verification of local entities seeking funds. Overall, the legislation aims to ensure equitable distribution of revenue sharing funds while addressing specific local needs and maintaining transparency in the distribution process.