Bill > HB462

This bill provides for the Revenue Sharing Distribution for Fiscal Year 2025-2026, establishing a $90 million fund to be distributed across Louisiana's parishes and local government entities. The bill defines "tax recipient bodies" as various local government entities eligible to receive revenue sharing funds, including cities, parishes, school boards, and special taxing districts. The distribution of funds will be based on two primary factors: 80% proportional to the parish's population and 20% proportional to the number of homestead exemptions in the parish. The bill specifies detailed rules for how these funds will be allocated, including provisions for commissions to tax collectors, contributions to retirement systems, and handling of any excess funds. The state treasurer will distribute the funds in three installments throughout the fiscal year, with specific guidelines for how local entities can use these funds. The bill also includes intricate provisions for different parishes, allowing for unique distribution methods based on local needs and historical precedents. The goal is to provide financial support to local governments while maintaining flexibility in fund usage and ensuring equitable distribution across the state.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB462&sbi=y