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LA HB678
Bill
Status
5/13/2025
Primary Sponsor
Julie Emerson
Click for details
AI Summary
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Repeals the Revenue Stabilization Trust Fund, which currently receives mineral revenues above $600M and corporate franchise/income tax revenues above $600M, with appropriations limited to capital outlay and transportation infrastructure when the balance exceeds $5B
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Increases the Budget Stabilization Fund cap from 4% to 7.5% of total state revenue receipts for the previous fiscal year
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Eliminates the requirement to deposit mineral revenues exceeding $950M annually into the Budget Stabilization Fund, beginning in Fiscal Year 2027-2028
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Repeals mineral revenue dedications to the Initial Unfunded Accrued Liability (IUAL) of LASERS and TRSL retirement systems
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Requires voter approval at the November 3, 2026 statewide election as a constitutional amendment
Legislative Description
(Constitutional Amendment) Modifies disposition of certain state revenues through repeal of the Revenue Stabilization Trust Fund and deposits of certain revenue streams into the Budget Stabilization Fund (RRF INCREASE GF RV See Note)
FUNDS/FUNDING
Last Action
Read second time by title and referred to the Committee on Finance.
5/14/2025