§ 24:521 — Actuarial notes

Louisiana § 24:521

• Jurisdiction: Louisiana
• Title 24: Legislature and Laws

Text

§521. Actuarial notes
A. Every bill, joint resolution, and simple or concurrent resolution introduced in the
legislature proposing any change in the law relative to any state, municipal or parochial
retirement system, funded in whole or in part out of public funds shall have attached to it at
the time of its consideration by any committee of either house of the legislature a brief
explanatory statement or note which shall include a reliable estimate of the fiscal and
actuarial effect of the proposed change in any such retirement system. The statement or note
shall be known as an actuarial note. Such note shall be attached to the original of each
proposed bill or resolution which is reported favorably by any committee of either house of
the legislature, but shall be separate therefrom, shall be clearly designated as an actuarial
note, and shall not constitute a part of the law or other provisions or expression of legislative
intent proposed by the bill or resolution.
B.(1) Subject to the provisions of this Subsection, for each bill or resolution for
which an actuarial note is required as provided in Subsection A of this Section, a request for
an actuarial note shall be presented to the legislative auditor who shall have the duty to
prepare the note as promptly as possible. The actuarial note for any bill prefiled at least forty-five days prior to a regular session of the legislature shall be completed and filed at least five
days prior to the convening of that session. Actuarial notes shall be prepared in the order of
receipt of request for such notes.
(2) Within seven days after the transmittal to the author of the bill or resolution along
with a memorandum indicating the bill or resolution may require an actuarial note, the author
may instruct, in writing addressed to the chief clerical officer of the house in which the
member serves, that an actuarial note be obtained or that no actuarial note be obtained. If the
author instructs that no actuarial note be obtained, no request for an actuarial note will be
made prior to the prefiling or introduction of the bill or resolution, except as provided in
Paragraph (3) of this Subsection. Each written instruction received shall be recorded and
preserved in the file maintained for the bill or resolution.
(3) If no written instruction is received within the time period set in Paragraph (2)
of this Subsection, the chief clerical officer of the house in which the author is a member may
request an actuarial note for the bill or resolution at any time prior to prefiling or
introduction. In determining whether an actuarial note should be requested, due
consideration shall be given to the recommendation of the staff of the house in which the
author is a member.
(4) In addition, at prefiling or introduction, the chief clerical officer may request an
actuarial note, and the chairman of the committee to which such bill or resolution is referred
may request an actuarial note immediately upon referral of the bill or resolution.
C. The note shall be factual in nature, as brief and concise as may be, and shall, if
possible, provide a reliable estimate in dollars. In addition, it shall include both the
immediate effect and, if determinable or reasonably foreseeable, the long range fiscal and
actuarial effect of the measure. The fiscal and actuarial effect of the measure shall include
any impact on the costs to or the revenues of the retirement system and the estimated fiscal
impact on governmental entities, including the effect on federal, state, and local funds. If,
after careful investigation, it is determined that no dollar estimate is possible, the note shall
set forth the reasons why no dollar estimate can be given. No comment or opinion shall be
included in the actuarial note with regard to the merit, or lack thereof, of the measure for
which the note is prepared. However, technical or mechanical defects may be noted.
D. At any time any committee of either house reports any legislative instrument, to
which an actuarial note was attached at the time of committee consideration, with any
amendment of such nature as would substantially affect the costs to or the revenues of any
retirement system or the estimated fiscal impact on governmental entities, including the
effect on federal, state, and local funds as stated in the actuarial note attached to the measure
at the time of such consideration, it shall be the responsibility of the chairman of the
committee reporting such instrument to obtain from the legislative auditor an actuarial note
of the fiscal and actuarial effect of the change proposed by the amendment reported. The
actuarial note shall be attached to the report of the committee on the measure as a supplement
thereto, but shall not be printed in the journal. At any time a floor amendment is offered in
either house to any bill or resolution to which an actuarial note was attached at the time of
committee consideration or committee report, which amendment would substantially affect
the cost to or the revenues of any retirement system or the estimated fiscal impact on
governmental entities, including the effect on federal, state, and local funds as stated in the
most recent actuarial note, and the member proposing such amendment does not present to
the house an actuarial note prepared by the legislative auditor as to the fiscal and actuarial
effect of his proposed amendment, any member may offer a motion that the proposed
amendment be withdrawn. If the motion is adopted by the favorable vote of a majority of
the quorum present the amendment shall be deemed to be withdrawn, though the amendment
may be proposed again at any time it would otherwise be in order, provided that the required
actuarial note is presented at that time.
E. Prior to the prefiling or introduction, the subject matter of bills or resolutions
submitted to the legislative auditor for preparation of the required information for said
actuarial notes shall be kept in strict confidence, and no information relating thereto or
relating to the fiscal or actuarial effect of any such bill or resolution shall be divulged by the
legislative auditor or any of his employees, except to the author or authors of the bill or
resolution, the chief clerical officer and the staff of the house in which the author serves, and
the legislative fiscal officer and his staff. After prefiling or introduction, copies of the
actuarial note on any bill or resolution shall be furnished to the author, the chief clerical
officer of the house in which the author is a member, and the committee to which the bill or
resolution is referred.

Legislative History

Acts 1991, No. 610, §1, eff. Dec. 31, 1991; Acts 2001, No. 1102, §5; Acts 2016, No. 176, §1; Acts 2016, No. 353, §1.