BillTrack50 logo
Free Signup Login
Bill

Bill > HB579

LA HB579

LA HB579
Provides for the transfer, deposit, and use of monies among state funds (EN -$9,000,000 GF RV See Note)

summary

Introduced
04/04/2025
In Committee
06/04/2025
Crossed Over
05/12/2025
Passed
06/20/2025
Dead
Signed/Enacted/Adopted
06/20/2025

Introduced Session

Potential new amendment
2025 Regular Session

Bill Summary

AN ACT To amend and reenact R.S. 17:3801(A) and (C) and 3802(A)(1), R.S. 39:98.1, 98.2(A) and (E), 98.3(A) and (C)(introductory paragraph), and 100.161(B)(3), and R.S. 40:1669(J), to enact R.S. 17:407.30.2 and R.S. 39:98.2(F) and 100.161(E), and to repeal Chapter 35 of Title 17 of the Louisiana Revised Statutes of 1950, comprised of R.S. 17:3801 through 3805, and R.S. 39:98.3(C) and (E) and 100.116(A)(9), relative to certain treasury funds; to provide for the transfer, deposit, and use, as specified, of monies in certain treasury funds and accounts; to provide for the investment of certain treasury funds and accounts; to repeal certain treasury funds and accounts; to establish the Early Childhood Education Stability Fund; to provide with respect to termination of certain funds; to provide with respect to the authority of the Louisiana State Law Institute; to provide for effectiveness; and to provide for related matters.

AI Summary

This bill provides for complex financial transfers and changes to several state funds, with key provisions including the establishment of a new Early Childhood Education Stability Fund that will receive $11 million annually beginning July 1, 2026, from the state general fund. The bill modifies the Millennium Trust's investment strategies, expanding the types of investments allowed, including increasing potential stock investments from 35% to potentially 50% with legislative approval. It also allows the state treasurer to enter into repurchase agreements and securities lending contracts to generate passive income. The bill repeals certain existing fund structures and updates investment authorities for various state funds, including the Unclaimed Property Permanent Trust Fund. Additionally, the bill extends the Law Enforcement Recruitment Incentive Program's termination date from July 1, 2025, to July 1, 2027. These changes are contingent upon the adoption of a proposed constitutional amendment and are designed to provide more flexible financial management and investment strategies for Louisiana's state funds.

Committee Categories

Budget and Finance

Sponsors (3)

Last Action

Effective date: See Act. (on 06/20/2025)

bill text

bill summary

Loading...

bill summary

Loading...

bill summary

Document Type Source Location
State Bill Page https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB579&sbi=y
Analysis - Resume Digest for HB579 https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1430270
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1426008
Fiscal Note - HB579 Enrolled https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1425364
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1425264
Analysis - Digest of CCRHB579 2549 4409 Proposed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1424913
Analysis - Summary of Senate Amendments to HB579 https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1423972
Fiscal Note - HB579 Engrossed With Senate Cmte Amendments https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1422236
Analysis - Senate Green Sheet Digest for HB579 https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1422066
Senate Committee Amendment #2801 FNCE Draft https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1421447
Senate Committee Amendment #2850 FNCE Adopted https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1421617
Fiscal Note - HB579 Engrossed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1412161
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1411944
Analysis - Digest of HB579 Engrossed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1412057
House Committee Amendment #2279 APP Proposed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1411855
House Committee Amendment #2080 APP Draft https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1410588
Fiscal Note - HB579 Original https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1411447
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1404388
Analysis - Digest of HB579 Original https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1404402
Loading...