§ 39:100.50 — 2021 Budget Reconciliation Fund

Louisiana § 39:100.50

• Jurisdiction: Louisiana
• Title 39: Procurement and Contract

Text

§100.50. 2021 Budget Reconciliation Fund
A. There is hereby created and established in the state treasury, as a special fund, the
2021 Budget Reconciliation Fund, hereinafter the "fund". After allocation of money to the
Bond Security and Redemption Fund as provided in Article VII, Section 9(B) of the
Constitution of Louisiana, the treasurer shall deposit in and credit to the fund any monies
reported by the commissioner of administration as being achieved as a result of the
reductions to agency's budgets in Section 23 of Act No. 1 of the 2020 First Extraordinary
Session of the Legislature.
B. The monies in the fund shall be invested in the same manner as monies in the
state general fund. Interest earned on the investment of monies in the fund shall be deposited
in and credited to the fund.
C. Monies in the fund may be utilized to restore agency budgets in the event
economic conditions warrant such action and are approved either by the legislature, if in
session on or before October 15, 2020, or the Joint Legislative Committee on the Budget, if
the legislature is not in session on or before October 15, 2020.
NOTE: Provisions in HB 1 of the 2020 1 st Ex. Sess. that would have
generated monies for this fund were vetoed by the governor.

Legislative History

Acts 2020 1 st Ex. Sess., No. 10, §7, eff. July 1, 2020.