Senate Bill No. 163, introduced by Senator Womack, establishes the Reserve Fund as a special fund within the state treasury of Louisiana. The bill outlines the procedures for the transfer, dedication, deposit, and use of funds, specifying that any money appropriated or donated to the Reserve Fund will be deposited therein. Additionally, it mandates that all unexpended and unencumbered funds at the end of the fiscal year will remain in the Reserve Fund, which will be invested by the state treasurer in a manner similar to the state general fund. Interest earned from these investments will also be credited to the Reserve Fund.

The bill stipulates that withdrawals from the Reserve Fund can only occur through legislative appropriation. It is set to take effect upon the governor's signature or, if not signed, after the designated period for bills to become law without signature. This legislation aims to enhance the management and utilization of state funds, ensuring that resources are available for future needs while maintaining legislative oversight over withdrawals.