Louisiana Revenue Stabilization Trust Fund Amendment
Louisiana Ballot Measure - Legislatively Referred Constitutional Amendment
Election: Nov. 18, 2023 (General)
Outcome: Failed
Categories:
Budget, Spending and TaxesSummary
This amendment would remove the state legislature's current authority to appropriate revenue from the fund in an emergency with no cap on withdrawals. The amendment would allow the state legislature, after using the maximum allowable funds from the Budget Stabilization Fund (the state's Rainy Day Fund), to use up to $250 million of funds in the Revenue Stabilization Trust Fund to alleviate a budget deficit in a current fiscal year or the next fiscal year if an official forecast projects a deficit. A two-thirds (66.67%) vote of the state legislature would be required to (1) use Revenue Stabilization Trust Fund money to alleviate a budget deficit, (2) change the minimum fund balance or allowable percentage that can be withdrawn, or (3) change the maximum amount that can be used to alleviate a budget deficit.
Measure Text
Do you support an amendment authorizing the legislature, after securing a two-thirds vote of each house, to use up to two hundred fifty million dollars from the Revenue Stabilization Trust Fund to alleviate a budget deficit subject to conditions set forth by law and allowing the legislature to modify such conditions for accessing the monies in the fund, subject to two-thirds vote? (Amends Article VII, Section 10.15(E)(1) and (F); Adds Article VII, Section 10.15(G))
Resources
Official Summary
Full Text