Louisiana Revised Statutes 39:100.50 – 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 Bon
Terms Used In Louisiana Revised Statutes 39:100.50
- Agency: means any state office, department, board, commission, institution, division, officer or other person, or functional group, heretofore existing or hereafter created, that is authorized to exercise, or that does exercise, any functions of the government of the state in the executive branch, but not any governing body or officer of any local government or subdivision of the state, or any parochial officer who exercises functions coterminous with the municipality in which he performs those functions. See Louisiana Revised Statutes 39:2
- Commissioner: shall mean the commissioner of the division of administration of the state. See Louisiana Revised Statutes 39:100.42
- Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
- State: means the state of Louisiana. See Louisiana Revised Statutes 39:100.42
- Treasurer: means the state treasurer of Louisiana. See Louisiana Revised Statutes 39:100.42
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 La. Const. Art. VII, § 9(B) , 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.
Acts 2020 1st Ex. Sess., No. 10, §7, eff. July 1, 2020.
NOTE: Provisions in HB 1 of the 2020 1st Ex. Sess. that would have generated monies for this fund were vetoed by the governor.