Louisiana HB 678: FUNDS/FUNDING: (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)

Bill Text

HLS 25RS-1128 RE-RE-REENGROSSED
2025 Regular Session
HOUSE BILL NO. 678 (Substitute for House Bill No. 472 by Representative Emerson)
BY REPRESENTATIVE EMERSON
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
FUNDS/FUNDING: (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
1 A JOINT RESOLUTION
2 To amend Article VII, Sections 10(D)(2)(d), 10.3(A), and 10.5(B) of the Constitution of
3 Louisiana, to add Article VII, Section 10.3(D) of the Constitution of Louisiana, and
4 to repeal Article VII, Sections 10(F)(4)(h), 10.3(C)(5), 10.15, and 10.16(A)(12), (B),
5 and (C) of the Constitution of Louisiana, relative to revenue and finance; to provide
6 with respect to monies in the state treasury; to modify disposition of certain state
7 revenues through repeal of the Revenue Stabilization Trust Fund and deposits of
8 certain revenue streams into the Budget Stabilization Fund; to increase the amount
9 of monies that may be deposited into the Budget Stabilization Fund; to align
10 constitutional provisions regarding deposit of monies into the Budget Stabilization
11 Fund; to repeal dedications of mineral revenues; to make technical and conforming
12 changes; to provide for certain deposits through the end of Fiscal Year 2026-2027;
13 to provide for submission of the proposed amendment to the electors; and to provide
14 for related matters.
15 Section 1. Be it resolved by the Legislature of Louisiana, two-thirds of the members
16 elected to each house concurring, that there shall be submitted to the electors of the state of
17 Louisiana, for their approval or rejection in the manner provided by law, a proposal to
18 amend Article VII, Sections 10(D)(2)(d), 10.3(A), and 10.5(B) of the Constitution of
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.

HLS 25RS-1128 RE-RE-REENGROSSED
HB NO. 678
1 Louisiana and to add Article VII, Section 10.3(D) of the Constitution of Louisiana, to read
2 as follows:
3 §10. Expenditure of State Funds
4 Section 10.
5 * * *
6 (D) Appropriations.
7 * * *
8 (2) Except as otherwise provided in this constitution, the appropriation or
9 allocation of any money designated in the official forecast as nonrecurring shall be
10 made only for the following purposes:
11 * * *
12 (d) Providing Unless prohibited by the provisions of Article VII, Section
13 10.3 of this constitution, providing for allocation transfer or appropriation for deposit
14 into the Budget Stabilization Fund established in Article VII, Section 10.3 of this
15 constitution.
16 * * *
17 §10.3. Budget Stabilization Fund
18 Section 10.3.(A) There is hereby established in the state treasury a Budget
19 Stabilization Fund hereinafter referred to as the fund. Fund, hereafter referred to in
20 this Section as the "fund". Money shall be deposited in the fund as follows:
21 (1) All money available for appropriation from the state general fund and
22 dedicated funds in excess of the expenditure limit, except funds allocated by Article
23 VII, Section 4, Paragraphs (D) and (E), shall be deposited in the fund. (E).
24 (2)(a) All revenues received in each fiscal year by the state in excess of
25 seven hundred fifty million dollars, hereinafter referred to as the base, as a result of
26 the production of or exploration for minerals, hereinafter referred to as mineral
27 revenues, including severance taxes, royalty payments, bonus payments, or rentals,
28 and excluding such revenues designated as nonrecurring pursuant to Article VII,
29 Section 10(B) of the constitution, any such revenues received by the state as a result
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.

HLS 25RS-1128 RE-RE-REENGROSSED
HB NO. 678
1 of grants or donations when the terms or conditions thereof require otherwise, and
2 revenues derived from any tax on the transportation of minerals, shall be deposited
3 in the fund after the following allocations of said mineral revenues have been made:
4 (i) To the Bond Security and Redemption Fund as provided by Article VII,
5 Section 9 (B) of this constitution.
6 (ii) To the political subdivisions of the state as provided in Article VII,
7 Sections 4 (D) and (E) of this constitution.
8 (iii) As provided by the requirements of Article VII, Section 10-A and 10.1
9 of this constitution.
10 (b) The base may be increased every ten years beginning in the year 2000
11 by a law enacted by two-thirds of the elected members of each house of the
12 legislature. Any such increase shall not exceed fifty percent in the aggregate of the
13 increase in the consumer price index for the immediately preceding ten years.
14 (3) Twenty-five percent of any money designated in the official forecast as
15 nonrecurring as provided in A