HB 461: FUNDS/FUNDING: Provides for the transfer, deposit, and use of monies among state funds - Louisiana

HB461 Original → HB461 Act · 11 edits

MAJOR

The bill was converted from an original draft to an enrolled act, significantly expanding the scope of funds the State Treasurer can transfer. The act now authorizes the transfer of monies from multiple specific treasury accounts, including the Mineral and Energy Operation Fund and the Louisiana Mega-Project Development Fund, in addition to the State General Fund. Additionally, the minimum fund balance requirement for the Revenue Stabilization Trust Fund was increased to $2.7 billion, and the allowable appropriation percentage was raised to 45% for the 2025-2026 fiscal year.

Scope change

The bill's scope expanded from a single transfer to the Budget Stabilization Fund to include transfers from numerous other specific funds and accounts to support various state programs and emergency responses.

FISCAL

Added authorization to transfer $8 million from the State General Fund to the Oilfield Site Restoration Fund.

Added authorization to transfer $10 million from the Mineral and Energy Operation Fund to the Oilfield Site Restoration Fund.

Added authorization to transfer $1 million from the State General Fund to the Louisiana Outdoors Forever Fund.

Added authorization to transfer $1 million from the State General Fund to the Reading Enrichment and Academic Deliverables Fund.

Added authorization to transfer $25.3 million from the State General Fund to the Overcollections Fund.

Added authorization to transfer $21.5 million from the Louisiana Mega-Project Development Fund to the Rapid Response Fund.

Added authorization to transfer $50 million from the State General Fund to the Capital Outlay Savings Fund.

Added a new provision requiring the deposit of overcollected funds into the Overcollections Fund for specific vetoed appropriations.

Added authorization to transfer $15 million from the Department of Insurance to the Louisiana Fortify Homes Program Fund.

Added authorization to transfer $500,000 to the Fiscal Administrator Revolving Loan Fund and $1.03 million to the Major Events Incentive Fund.

REQUIREMENT

Modified the Revenue Stabilization Trust Fund requirements, increasing the minimum fund balance from $2.2 billion to $2.7 billion and raising the allowable appropriation percentage from 33% to 45% for fiscal year 2025-2026.

HB461 Enrolled → HB461 Original · 5 edits

MODERATE

The bill was significantly streamlined by removing detailed transfer instructions for multiple specific state funds (such as the Oilfield Site Restoration Fund and Capital Outlay Savings Fund) and reducing the scope of the enacted statutes. The primary substantive change is a reduction in the minimum required balance for the Revenue Stabilization Trust Fund from $2.7 billion to $2.2 billion for the 2025-2026 fiscal year, while increasing the allowable appropriation percentage from 45% to 33%. Additionally, the bill now authorizes emergency appropriations from this fund with a two-thirds legislative vote requirement, whereas the original version included broader transfer mandates.

Scope change

The bill's scope was narrowed by deleting provisions that authorized specific fund transfers and by removing the enactment of several other statutes (R.S. 100.252 through 100.256) that were part of the original version.

FISCAL

Deleted specific instructions to transfer millions of dollars to various funds including the Oilfield Site Restoration Fund, Louisiana Outdoors Forever Fund, and Capital Outlay Savings Fund.

REQUIREMENT

Lowered the minimum required balance for the Revenue Stabilization Trust Fund from $2.7 billion to $2.2 billion for the 2025-2026 fiscal year.

Increased the allowable percentage of the Revenue Stabilization Trust Fund that can be appropriated from 45% to 33% for the 2025-2026 fiscal year.

Added a provision allowing emergency appropriations from the Revenue Stabilization Trust Fund for state-wide emergency conditions, requiring a two-thirds vote from each legislative house.

SCOPE

Removed the enactment of several additional statutes (R.S. 100.252 through 100.256) regarding transportation, education, and economic development funds.

HB461 Reengrossed → HB461 Enrolled · 4 edits · Jun 20, 2025

MODERATE

The bill evolved from a reengrossed version containing specific, fixed-dollar transfers to an enrolled version that establishes new permanent funds and significantly alters financial thresholds. The most critical change is the increase in the minimum fund balance for the Revenue Stabilization Trust Fund from $2.2 billion to $2.7 billion and the allowable appropriation percentage from 33% to 45% for the 2025-2026 fiscal year. Additionally, the enrolled version introduces several new funds (such as the Louisiana Transportation Infrastructure Fund and Modernization and Security Fund) and includes a mechanism to automatically redirect vetoed appropriations to the Overcollections Fund.

Scope change

The bill's scope expanded from a one-time transfer of surplus funds to the creation of multiple new permanent funds and the modification of long-term fiscal rules governing the state's revenue stabilization.

FISCAL

The minimum required balance for the Revenue Stabilization Trust Fund was increased from $2.2 billion to $2.7 billion, and the maximum allowable appropriation percentage was raised from 33% to 45% for fiscal year 2025-2026.

New funds were established, including the Louisiana Transportation Infrastructure Fund, Modernization and Security Fund, and Louisiana Economic Development Initiatives Fund.

A new provision was added to automatically deposit amounts equal to vetoed line items into the Overcollections Fund.

Specific dollar amounts for certain transfers were removed or reorganized; for example, the transfer to the Louisiana Fortify Homes Program Fund was reduced from $15 million to $5 million.

HB461 Engrossed → HB461 Reengrossed · 1 edit · Jun 9, 2025

MINOR

The bill was reengrossed to reflect amendments made after the initial engrossment, primarily updating the citation for Section 2 to specifically address R.S. 39:100.112(F)(2)(d) rather than the entire section. This change clarifies the specific subsection being enacted, likely due to prior legislative adjustments or corrections to the bill text.

Scope change

The scope of the bill remains focused on transferring state general fund monies to special funds, but the specific legal citation for the amendment to the Revenue Stabilization Trust Fund has been narrowed to a specific subsection.

TECHNICAL

The citation in Section 2 was changed from amending the entire R.S. 39:100.112 to specifically enacting R.S. 39:100.112(F)(2)(d), indicating a refinement in how the law is referenced.

FUNDS/FUNDING: Provides for the transfer, deposit, and use of monies among state funds

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