All Roll Calls
Yes: 377 • No: 2
LouisianaHB 5792025 Regular SessionHouseWALLET
FUNDS/FUNDING: Provides for the transfer, deposit, and use of monies among state funds (EN -$9,000,000 GF RV See Note)
Sponsored By: Julie Emerson
Signed by Governor
FinanceAppropriations
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Bill Overview
Analyzed Economic Effects
7 provisions identified: 3 benefits, 0 costs, 4 mixed.
Police recruitment incentives last two years longer
The Louisiana Law Enforcement Recruitment Incentive Program ends July 1, 2027, instead of July 1, 2025. This keeps the program available for two more years. At termination, the treasurer must transfer money not spent or committed to the state general fund. The law does not specify incentive amounts or change participant eligibility details.
Health and wildlife trusts gain investment choices
The treasurer can use Millennium Trust investment options for three additional state funds, alongside their existing options. These are the Medicaid Trust Fund for the Elderly, Rockefeller Wildlife Refuge Trust and Protection Fund, and Russell Sage or Marsh Island Refuge Fund. This authority takes effect only upon adoption and effectiveness of the constitutional amendment originating as House Bill 473 of 2025. The law sets no investment return or change to household benefits.
Yearly funding for early childhood education
The law creates the Early Childhood Education Stability Fund. Starting July 1, 2026, the state transfers $11 million each July 1 after meeting required bond-fund obligations. Lawmakers can fund early childhood programs through the state education board, the Department of Education, or both. The fund also accepts donations, grants, and other revenue, keeps its interest, and carries unspent money forward. Its assets are invested like state general fund money.
State trust gets investment options and limits
The treasurer gains more Millennium Trust investment choices, including eligible deposits, securities, bonds, and international index funds. Stocks generally have a 35% limit; two-thirds of each legislative house can approve a higher limit, capped at 50%. Foreign securities are capped at 5% of covered investments, and international index funds at 10% of the trust's value. Repurchase agreements, reverse repurchase agreements, and securities lending can earn income, with a 10% cap on this activity. Direct foreign-company stock investments linked to nations supporting terrorism are barred. Deposits must meet insurance or collateral rules and Treasury-rate minimums; other securities must meet stated eligibility standards. Investment-management contracts need State Bond Commission approval, and trust payments for those contracts need legislative appropriation. These changes depend on adoption and effectiveness of the constitutional amendment originating as House Bill 473 of 2025.
Unclaimed property trust gets investment changes
The treasurer gains more investment choices for the UCP Permanent Trust Fund, subject to safety and eligibility rules. Stocks are capped at 35% of fund value, and foreign securities at 5% of covered investments. Deposits must meet insurance or collateral rules and earn at least comparable U.S. Treasury market rates. The law bars direct common-stock investments in foreign companies known to do business with nations supporting terrorism. Repurchase agreements, reverse repurchase agreements, and securities lending can generate income, subject to a 10% activity cap. That income-generating authority takes effect only upon adoption and effectiveness of the constitutional amendment originating as House Bill 473 of 2025.
School funding rules and revenue sources change
The law reorganizes the education trust framework into the Louisiana Quality Education Support Fund and removes specified revenue-deposit rules. Removed rules cover certain federal offshore receipts, recurring revenues, and investment earnings; affected amounts are not stated. Up to 50% of Support Fund money can support school staff pay, classroom materials, achievement programs, research, and pilot programs. Allowed uses also include summer remediation, preschool, foreign-language classes, and scholarships or stipends for future teachers in shortage areas. Appropriations must be itemized in the executive budget and appropriation bill, whose passage approves the funded programs. The reorganization depends on adoption and effectiveness of the constitutional amendment originating as House Bill 473 of 2025; related education-law repeals take effect July 1, 2026.
Settlement money shifts toward health and scholarships
The Millennium Trust receives 75% of annual tobacco settlement receipts after required Bond Security and Redemption Fund allocations. Health Excellence and TOPS each receive half of trust dividends, interest, and realized gains, replacing the three-way earnings split. The law repeals the former Education Excellence Fund provisions and establishes an Education Excellence Fund within the reorganized trust. It also removes the former education fund's earnings-based spending cap, capital-gains limit, and requirement for spending performance expectations. These trust changes take effect only upon adoption and effectiveness of the constitutional amendment originating as House Bill 473 of 2025.
Sponsors & Cosponsors
Sponsor
Julie Emerson
Affiliation unavailable
Cosponsors
Rick Edmonds
Republican • Senate
Tehmi Jahi Chassion
Democratic • House
Roll Call Votes
Senate vote • 6/12/2025
Conference Committee Report read; adopted by a vote of 37 yeas and 0 nays.
Yes: 37 • No: 0
House vote • 6/12/2025
Conference Committee Report read, roll called, yeas 98, nays 0. The Conference Committee Report was adopted.
Yes: 98 • No: 0
House vote • 6/10/2025
Read by title, roll called, yeas 94, nays 0, Senate amendments rejected, conference committee appointment pending.
Yes: 94 • No: 0
Senate vote • 6/9/2025
The amended bill was read by title, passed by a vote of 39 yeas and 0 nays, and ordered returned to the House. Motion to reconsider tabled.
Yes: 39 • No: 0
House vote • 5/12/2025
Read third time by title, roll called on final passage, yeas 95, nays 2. Finally passed, title adopted, ordered to the Senate.
Yes: 95 • No: 2
House vote • 5/6/2025
Reported with amendments
Yes: 14 • No: 0
Actions Timeline
Signed by the Governor. Becomes Act No. 385.
6/20/2025HouseEffective date: See Act.
6/20/2025HouseSent to the Governor for executive approval.
6/13/2025HouseConference Committee report received. Lies over under the rules.
6/12/2025HouseRules suspended.
6/12/2025HouseConference Committee Report read, roll called, yeas 98, nays 0. The Conference Committee Report was adopted.
6/12/2025HouseNotice House adopted the Conference Committee Report.
6/12/2025SenateConference Committee Report read; adopted by a vote of 37 yeas and 0 nays.
6/12/2025SenateNotice of Senate adoption of Conference Committee Report.
6/12/2025HouseEnrolled and signed by the Speaker of the House.
6/12/2025HouseSigned by the President of the Senate.
6/12/2025SenateSenate conference committee members appointed: Edmonds, Pressly, and Womack.
6/11/2025SenateNotice House Conference Committee members appointed.
6/11/2025SenateNotice of Senate conferees appointed.
6/11/2025HouseHouse conferees appointed: Emerson, McFarland, and Beaullieu.
6/11/2025HouseRead by title, roll called, yeas 94, nays 0, Senate amendments rejected, conference committee appointment pending.
6/10/2025HouseRules suspended. Called from the Calendar.
6/9/2025SenateThe amended bill was read by title, passed by a vote of 39 yeas and 0 nays, and ordered returned to the House. Motion to reconsider tabled.
6/9/2025SenateReceived from the Senate with amendments.
6/9/2025HouseScheduled for concurrence on 06/10/2025.
6/9/2025HouseRules suspended.
6/8/2025SenateRead by title and returned to the Calendar, subject to call.
6/8/2025SenateReported with amendments. Rules suspended. Committee amendments read and adopted. Read by title and referred to the Legislative Bureau.
6/4/2025SenateReported without Legislative Bureau amendments. Read by title and passed to third reading and final passage.
6/4/2025SenateRead second time by title and referred to the Committee on Finance.
5/13/2025Senate
Bill Text
Engrossed
Enrolled
Introduced
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