House Bill No. by Representative McFarland aims to re-create the Department of the Treasury and its associated statutory entities, establishing a new effective date for their existence. The bill enacts R.S. 49:191(3)(b), which specifies that the Department of the Treasury and all statutory entities made a part of the department by law will be re-created effective June 30, 2026. Additionally, it sets a new termination date for these entities, moving it from July 1, 2027, to July 1, 2031, with operations beginning to phase out on July 1, 2030, unless the department is re-created again before that date.

Furthermore, the bill repeals R.S. 49:191(1)(i) in its entirety, which previously outlined certain provisions related to the termination of legislative authority for statutory entities. The proposed law supersedes existing provisions of the Sunset Law that required separate bills for the re-creation of each statutory entity within the department, streamlining the process for maintaining the Department of the Treasury and its entities. The overall intent is to ensure the continued operation of the Department of the Treasury and its statutory entities while providing a clear timeline for their review and potential re-creation.

Statutes affected:
HB290 Original: 49:191(1)