This bill enacts new provisions regarding the Department of the Treasury in Louisiana, specifically R.S. 49:191(3)(b), which establishes that the Department and its statutory entities will be re-created effective June 30, 2026. It also sets a termination date for all statutory authority related to these entities, which will cease on July 1, 2031, unless re-created prior to that date. The bill supersedes any conflicting provisions in R.S. 49:193 and outlines a phase-out period for the statutory entities, with operations beginning to terminate on July 1, 2030.

Additionally, the bill repeals R.S. 49:191(1)(i) in its entirety, removing previous legislative authority related to the Department of the Treasury. The overall intent of the bill is to ensure the continued existence and regulation of the Department and its entities while establishing clear timelines for their operation and potential termination. The act is set to take effect on June 30, 2026.

Statutes affected:
HB290 Original: 49:191(1)
HB290 Engrossed: 49:191(1)
HB290 Enrolled: 49:191(1)
HB290 Act 426: 49:191(1)