House Bill No. proposes an amendment to Article VII, Section 10(D)(2)(b)(iii) of the Louisiana Constitution regarding the allocation of state funds to retirement systems. The bill seeks to remove the existing requirement that any nonrecurring state monies appropriated to state retirement systems must be applied to the oldest unfunded accrued liabilities first. Instead, it allows for a more flexible approach where the legislature can establish a formula for distributing these funds among the retirement systems based on their respective unfunded accrued liabilities.

The proposed amendment will be submitted to the voters of Louisiana during the statewide election on November 3, 2026. The ballot will ask electors whether they support the change that permits state retirement systems to apply nonrecurring state funds to any of their unfunded accrued liabilities, rather than being restricted to the oldest liabilities. This change aims to provide the legislature with greater discretion in managing the state's retirement system funding.