House committee approves 'Rainy day' fund change
Times-Picayune (excerpt)

A Senate-backed bid to adjust the rules of Louisiana's "rainy day" fund, to remove a glitch that requires the fund to be repaid almost as soon as it's used, is headed to the full House for debate. The House Appropriations Committee agreed without objection to the proposal, after making changes that would require faster repayment to the fund than the Senate wanted. Certain pots of money immediately flow into the rainy day fund, including budget surpluses and any state income tied to oil and gas above $850 million, unless the fund has reached its cap. The proposed constitutional change, Senate Bill 147 by Senate President Joel Chaisson II, D-Destrehan, would change the repayment triggers for the fund, which is used to plug budget gaps, so money wouldn't have to be reimbursed in the year it is used or the following year.