This bill amends R.S. 30:2205(A)(1) concerning the Hazardous Waste Site Cleanup Fund in Louisiana. It increases the maximum balance of the fund from six million dollars to eight million dollars. Additionally, it establishes a requirement for the state treasurer to annually adjust this maximum balance starting January 1, 2027, based on the percentage increase in the Consumer Price Index for All Urban Consumers, as reported by the U.S. Department of Labor.

The bill also outlines the allocation of funds recovered through various means, such as judgments and settlements related to hazardous waste violations, into the Hazardous Waste Site Cleanup Fund. Once the fund reaches the new maximum balance of eight million dollars, any remaining sums will be directed to the Environmental Trust Dedicated Fund Account. The effective date for this legislation is set for July 1, 2026, with provisions for it to take effect sooner if approved by the legislature following a gubernatorial veto.

Statutes affected:
HB417 Original: 30:2205(A)(1)
HB417 Engrossed: 30:2205(A)(1)
HB417 Enrolled: 30:2205(A)(1)
HB417 Act 551: 30:2205(A)(1)