Louisiana Budget Stabilization Fund, Amendment 4 (October 2011), constitutional text changes

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Back to Louisiana Budget Stabilization Fund, Amendment 4 (October 2011)
Louisiana Constitution
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Preamble
Articles
IIIIIIIVVVIVIIVIIIIXXXIXIIXIIIXIV
If approved by voters on October 22, 2011 Amendment 4 would add Article VII, Section 10.3(C)(5).[1]

The new Article VII, Section 10.3(C)(5). would read:

§10.3. Budget Stabilization Fund

Section 10.3.

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(C) The money in the fund shall not be available for appropriation or use except under the following conditions:

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(5)(a) If at any time mineral revenues exceed the base as provided in Subsubparagraphs (A)(2)(a) and (b), and monies in the fund are made available for appropriation or use as provided in Paragraph (C), no deposit of mineral revenues, except those deposits into the fund for such purposes included in the official forecast of the Revenue Estimating Conference, shall be made as provided in Subsubparagraph (A)(2)(a) in the fiscal year for which money in the fund is appropriated or for which money in the fund is incorporated into the official forecast nor for the ensuing fiscal year, except by specific appropriation by the legislature. Thereafter, deposits of mineral revenues shall resume as provided in Subsubparagraph (A)(2)(a) except in an annual amount not to exceed one-third of the most recent amount made available for appropriation or use as provided in this Paragraph for the next three years after the ensuing year, until either the balance in the fund equals the maximum as provided in Subparagraph (C)(4) or an amount equal to the amount made available for appropriation or use is deposited into the fund, whichever is less. Amounts which are not deposited into the fund in one fiscal year as provided in this Subparagraph shall be deposited into the fund in the subsequent fiscal year until the amount withdrawn or used is satisfied or until the balance in the fund reaches the maximum as provided in Subparagraph (C)(4). The resumption of these deposits shall not cease because of a subsequent withdrawal from the fund.
(b) Except as provided in Subsubparagraph (C)(5)(a) of this Paragraph, in the fiscal year for which money in the fund is appropriated or incorporated into the official forecast or for the ensuing fiscal year, deposits to the fund shall be made as provided in Paragraph (A) of this Section.

References