Louisiana HB 414: FUNDS/FUNDING: Dedicates certain state sales and use tax revenues for deposit into the Construction Subfund of the Transportation Trust Fund (RE -$200,000,000 GF RV See Note)

Bill Text

HLS 19RS-910 REENGROSSED
2019 Regular Session
HOUSE BILL NO. 414
BY REPRESENTATIVE DAVIS
FUNDS/FUNDING: Dedicates certain state sales and use tax revenues for deposit into the
Construction Subfund of the Transportation Trust Fund
1 AN ACT
2 To enact R.S. 47:319, relative to state sales and use tax revenues; to dedicate state sales and
3 use tax revenues for deposit into the Construction Subfund of the Transportation
4 Trust Fund under certain circumstances; to require notifications; to provide for
5 exceptions and limitations; and to provide for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 47:319 is hereby enacted to read as follows:
8 §319. Disposition of collections; Construction Subfund of the Transportation Trust
9 Fund
10 A. Once a Louisiana Comprehensive Annual Financial Report is published
11 that reports that the amount of state "General Revenues from Sales and Use Taxes"
12 has exceeded three billion nine hundred million dollars for two consecutive years,
13 beginning in the next fiscal year, the amount exceeding three billion nine hundred
14 million dollars from the prior fiscal year, up to two hundred fifty million dollars,
15 from the sales and use taxes imposed under this Chapter, Chapter 2-A, and Chapter
16 2-B shall be deposited into the Construction Subfund of the Transportation Trust
17 Fund as provided in Subsection B of this Section. Within thirty days of publication
18 of that report, the commissioner of administration shall provide written notification
19 to the governor, the legislature, and the state treasurer that the threshold for
20 commencement of this dedication has been met.
Page 1 of 3
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.

HLS 19RS-910 REENGROSSED
HB NO. 414
1 B. Beginning on the first day of July following the notification by the
2 commissioner of administration, and for each fiscal year thereafter, after satisfaction
3 of the requirements of Article VII, Section 9(B) of the Constitution of Louisiana
4 concerning the Bond Security and Redemption Fund, and after satisfaction of the
5 requirements of Article VII, Section 10.3(A)(1) of the Constitution of Louisiana
6 concerning the deposit of monies in excess of the expenditure limit into the Budget
7 Stabilization Fund, the state treasurer shall deposit into the Construction Subfund of
8 the Transportation Trust Fund all state sales and use tax revenues collected in each
9 fiscal year that are in excess of three billion nine hundred million dollars.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 414 Reengrossed 2019 Regular Session Davis
Abstract: Establishes a dedication of up to $250 million based on the prior fiscal year's
state sales and use tax revenues over $3.9 billion for deposit into the Construction
Subfund of the Transportation Trust Fund once a La. Comprehensive Annual
Financial Report (CAFR) is published that reports annual state sales and use tax
revenues have exceeded $3.9 billion for two consecutive years.
Present law imposes state sales and use taxes upon the retail sale, use, consumption, or
storage, or lease or rental of, tangible personal property, and certain services.
Proposed law retains present law.
Present constitution establishes the Construction Subfund of the Transportation Trust Fund
for the funding of direct construction costs for transportation and infrastructure projects.
Proposed law establishes a dedication of up to $250 million based on the prior fiscal year's
state sales and use tax revenues over $3.9 billion for deposit into the Construction Subfund
of the Transportation Trust Fund once a CAFR is published that reports state sales and use
tax revenues in excess of $3.9 billion for two consecutive years.
Proposed law requires that within 30 days after publication of that CAFR, the commissioner
of administration give written notification to the governor, the legislature, and the state
treasurer that the threshold for this dedication has been met.
Proposed law requires that beginning on the first day of July following the notification by
the commissioner of administration, and for each fiscal year thereafter, after satisfaction of
the requirements of the Bond Security and Redemption Fund pursuant to present
constitution, and the requirement for deposit of any monies in excess of the expenditure limit
into the Budget Stabilization Fund pursuant to present constitution, the state treasurer shall
deposit up to $250 million, based on the amount of the prior fiscal year's state sales and use
Page 2 of 3
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.

HLS 19RS-910 REENGROSSED
HB NO. 414
tax revenues over $3.9 b