Bill > HB683

This bill modifies Louisiana's state revenue management by making several key changes to the Budget Stabilization Fund and the Revenue Stabilization Fund. The bill increases the maximum allowable balance of the Budget Stabilization Fund from four to seven and one-half percent of total state revenue receipts and adjusts the conditions for depositing and using funds. For the Revenue Stabilization Fund, the bill fundamentally changes its purpose, limiting its use to two specific scenarios: providing one-time payments to parishes that exempt business inventory from ad valorem tax, and allowing legislative appropriations if corporate income tax collections fall below $800 million in a fiscal year. The bill also directs the state treasurer to transfer the existing balance of the Revenue Stabilization Fund to the state general fund and transfer sufficient funds to bring the Budget Stabilization Fund to seven and one-half percent of the previous year's total state revenue receipts. These changes are contingent on the adoption of a related constitutional amendment and are designed to provide more flexibility in managing state revenues and supporting local tax policy changes. The bill's implementation is staged, with different sections taking effect at different times between 2026 and 2029, depending on the adoption of accompanying constitutional amendments.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB683&sbi=y