[{"_1":2,"_112":-5,"_113":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88,100],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6259654,"mediaKeyId","3138922-96d86cb612d9fed1aecd4c564e7a0b46","parentId",3138922,"title","Committee advances bill to apply $2 billion to TRSL unfunded liability; speakers flag program trade-offs","audioSeconds",1542,"startMs",768000,"endMs",2310000,"viewUrl","/Search/View?dp=1&key=3138922-96d86cb612d9fed1aecd4c564e7a0b46&start=768&end=2310","thumbnailUrl","https://assets.pipeline.soar.com/3138922-96d86cb612d9fed1aecd4c564e7a0b46/thumbnail_768000.jpg","articleUrl","/articles/6259654/Louisiana/Committee-advances-bill-to-apply-2-billion-to-TRSL-unfunded-liability-speakers-flag-program-trade-offs","mediaUrl","https://secure.pipeline.soar.com/6259654-7e7d16ed4b396271c926511a3942461a/orig.mp4?Expires=1770803756&Signature=RCjtYurfZzPkNQF3jDIPyYpN~8UNRBFC7RqBOyNEjkDKVbbPUiO80xFXZB0nTbl8D01d4QX-K9G~iSW94cKw3eoj2fuYeN8S48hXUMPo~6JKdUdjdpXi6~6KGY9BLZADY-suhoE~0jqzkNU4dMMONaZT1ecxYmSYx-5rhvDpfhPsv0BorJvdOA1G12-VQB0TUYiBGxboQwZmgGnD4LmVDfqTkBL9oikYH2M65KPN5rsGIB7se52QDhvvTCClwKB4n~wYo9ldt9lnT~5g9Ok-YVEh0cvgKxiheGz9vf4lkvc7-K6-vXyIa1J2QJLdfOQpZD3iYNbrwbnZMG0ef6pSpw__&Key-Pair-Id=KUT5TJCACFTXG","author","Louisiana Legislature","date","2025-04-28T00:00:00Z","article","The House Committee on Ways and Means advanced House Bill 473 on April 28, a single-issue measure intended to make a large one-time payment to the Teachers' Retirement System of Louisiana (TRSL).

Chair Emerson said the bill is a focused re-presentation of a portion of the prior Article VII rewrite and clarified the proposal would make a roughly $2 billion payment to TRSL's unfunded accrued liability. \"We are making a $2,000,000,000 ' actually a little over $2,000,000,000 debt payment, to the unfunded accrued liability of TRSL,\" Chair Emerson said when introducing the bill.

Supporters from education and child-advocacy groups spoke to the bill. Sadie Becknell of the Louisiana Policy Institute for Children asked lawmakers to protect Education Excellence and block grant funds that support early childhood seats for about 2,000 four-year-olds, and warned that shifting trust-fund money could reduce pre-K capacity if not addressed. Larry Carter, president of the Louisiana Federation of Teachers and School Employees, said LFT supports HB 473 but asked for statutory guarantees that educators actually receive the resulting pay increases and highlighted implementation timing concerns: the constitutional amendment would not take effect until after the 2026 school year unless companion statutory language guarantees pay.

Secretary Nelson (Department of the Treasury/Finance), who answered committee questions, explained the fiscal mechanics that proponents cited: paying down principal reduces future interest, which in turn reduces required contributions. Nelson estimated the state-level savings could be \"about, I think $80,000,000 or so\" and that the pool of funds that flow from the trust funds to education-related sub-funds could be roughly $50,000,000; testimony said tens of millions in net savings would remain after satisfying current commitments. Nelson also told the committee staff that the likely range of local shortfalls the state would need to top off (to ensure all school districts could implement a uniform stipend) ran from about $70,000 on a low-end scenario to roughly $6,000,000 in a high-end scenario; charter schools that do not participate in TRSL were estimated to need roughly $15,000,000 in top-off funding in one scenario.

Committee action: Representative Echols placed a motion to move HB 473 forward favorably; the chair asked for objections and none were recorded. The measure will proceed to later committee/action steps.

Context and next steps: Committee members asked whether Education Excellence Fund (EF) and other trust funds would be protected; witnesses and the author said they expect to honor current commitments but acknowledged those funds (EF, AG Block Grant, Millennium Trust sub-funds) currently receive interest earnings when balances are held in trust. Witnesses emphasized that the committee's action to advance the constitutional item does not itself enact the pay raises; that requires companion statutory language (Representative Carlson's companion legislation in House Education was referenced) to direct permanent pay increases. Several speakers asked for statutory guarantees so educators would not face a pay gap between the current stipends and any future constitutional change that takes effect after a school year begins.

Provenance: the committee read HB 473 into the record (staff reading at the start of the item) and later moved it forward with no objection. The transcript records multiple public witnesses and specific figures attributed to Secretary Nelson.

Outcome: HB 473 was moved forward by the committee with no recorded objections.","mediaType","Video","parentTitle","Ways & Means Apr 28, 9:00 AM, HCR-6","oneSentenceSummary","The House Committee on Ways and Means advanced House Bill 473 on April 28, which would deposit a little more than $2 billion to reduce the Teachers' Retirement System of Louisiana (TRSL) unfunded accrued liability.","taxTitle","2025 Legislature LA, Louisiana","taxId",78558,"location","Louisiana","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6259659,"Committee advances Article VII amendment to combine budget and revenue stabilization funds",531,182000,713000,"/Search/View?dp=1&key=3138922-96d86cb612d9fed1aecd4c564e7a0b46&start=182&end=713","https://assets.pipeline.soar.com/3138922-96d86cb612d9fed1aecd4c564e7a0b46/thumbnail_182000.jpg","/articles/6259659/Louisiana/Committee-advances-Article-VII-amendment-to-combine-budget-and-revenue-stabilization-funds","https://secure.pipeline.soar.com/6259659-c899f9b90a1d9d05ddf57e4d4dbfbf55/orig.mp4?Expires=1770803756&Signature=oIOp-K1hk-zWgvStooMhhmlny0gEOKW7krRsY~2vNWYhUTHgHWEJls8QQquwavAxbEqnPQsoRe94aUVCaUe-hVw8803eK~V8-3q5qENbZn~o-9CHTALQ1H7p-j7mEZEvi2D7K06HGz1breVCPvk6gKNUnD63u1nE0NA~BIuKHY-A~KfsCIhLh3asW4X1UJFZMp6bJ88OB1AqHfkXX39i17tnkxlXZGND4VVPltxuXP9-qaR4Ign5T7x0x3oYw49nVhu2f8ZVqdyTvjROXTi2A14xKn4DE4MDdCZNxv8492RwSIT56o6C3hUViezN4SoChvXmVlQqfSelrWCKvxoBxw__&Key-Pair-Id=KUT5TJCACFTXG","The House Committee on Ways and Means on April 28 advanced House Bill 472, a single-object constitutional amendment that would combine Louisiana's Budget Stabilization Fund and Revenue Stabilization Fund.

Chair Emerson, who presented the measure, said the pared-down amendment focuses on one issue after public feedback asking that the prior, broader rewrite be split into single-topic proposals. \"All this amendment is going to do ' is combine the budget and revenue stabilization funds,\" Chair Emerson said when opening the item.

The bill reduces the original, 115-page rewrite to a single-object constitutional change. Committee discussion described the change as a way to convert some balances held in the Revenue Stabilization Fund into recurring revenue for the State General Fund. Committee staff and the author said that when the revenues that previously flowed to the Revenue Stabilization Fund phase out, the overage would instead be deposited into the General Fund; speakers said that removes a $600,000,000 cap that had limited recurring corporate collections being counted as recurring General Fund revenue.

Committee members and staff noted the author intends separate, single-issue bills to address other topics that had been in the earlier full rewrite, including inventory tax phase-out measures and TRSL-related provisions.

Procedural outcome: the committee adopted substitute set 17-18 and reported HB 472 favorably by substitute. The committee recorded no formal roll-call opposition at the time of the report; the chair asked for a motion to report and there were no objections.

Clarifying details provided during the hearing: supporters said the change would (1) combine the two constitutional trust funds into a single fund; (2) redirect amounts that previously would have been limited by a $600 million cap into recurring General Fund revenue; and (3) enable future policy decisions about how to use the recurring revenue. The transcript records supporters warning that the measure frees recurring revenue and that other instruments will be needed to allocate those proceeds for specific purposes.

Background: an earlier, broader Article VII rewrite (sometimes referenced in testimony as Amendment 2) failed in March; HB 472 narrows that earlier rewrite to a single constitutional object at the request of members and many public commenters. The committee hearing included several pro-forma green-card entries from policy organizations signaling support but not testifying aloud.

Next steps: HB 472 was reported favorably by the committee and will proceed through the legislative process; because it is a constitutional amendment it will require placement on a ballot and follow ballot-timing rules before taking effect if approved by voters.","The House Ways and Means Committee advanced House Bill 472 — a single-object constitutional amendment that would merge the state's Budget Stabilization (rainy day) Fund and the Revenue Stabilization Fund, redirecting overages into the State General Fund and removing a $600 million recurring cap on corporate collections.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6259644,"Committee advances insurance-premium tax overhaul; bill would set a flat rate and narrow certain credits",1499,3417000,4916000,"/Search/View?dp=1&key=3138922-96d86cb612d9fed1aecd4c564e7a0b46&start=3417&end=4916","https://assets.pipeline.soar.com/3138922-96d86cb612d9fed1aecd4c564e7a0b46/thumbnail_3417000.jpg","/articles/6259644/Louisiana/Committee-advances-insurance-premium-tax-overhaul-bill-would-set-a-flat-rate-and-narrow-certain-credits","https://secure.pipeline.soar.com/6259644-118d56a11d7af80b52e3186af458f2f2/orig.mp4?Expires=1770803756&Signature=YNnFef~xnm1HqS9kCivZXTWo3He3gar-cNw3suD0TyNnZrdZPUoolWKixYgFKqrYQnVz5zm4k8D2THaOkaoH565IfoFY7jB7FbsQQ18WXYMULqWl7e-HInVPzk5M6nvZ0nsk5x7F9zGVDYaJh52zQDhG6a3jQhnzedMDA8fqUSeI7MlmnAz71xSHyjamUoLGqedOGIcTVwY4sKSLSgB0W3SQopEPbAIRBP6i9zqrLkrmhIG8Shkmvgz-w-ovBuSciRqNVxG3IQ1YEnGXBpXMDWpIo8DrceJA4Qe06Jr6W9vNZAkIO67U6AlnwJI-KA-Oqy~zCo~okAYPUnnuhrAv~g__&Key-Pair-Id=KUT5TJCACFTXG","House Bill 594, presented April 28, would establish a flat insurance-premium tax framework and repeal or limit a set of existing premium-tax credits and exemptions. Representative Henry, the bill's author, said Louisiana's premium-tax code is complex, that effective rates vary because of credits and exemptions, and that a flatter, simpler net rate would improve competitiveness and reduce premium burdens on policyholders.

Substantive changes described in committee and in the amendment set included:

- A baseline flat rate for most lines (author presented 1.66% as the target effective rate) and a narrowed set of investment credits.
- An altered definition for the domestic-insurer investment credit that requires at least 60% of the combined total of employees and corporate officers to be located in Louisiana and that the company maintain core business functions in-state (customer service, IT, enrollment, provider relations).
- Automatic, collections-based rate reductions: amendment language (amendments 8 and 11 in the set) provided for a 0.2 percentage-point premium-tax rate reduction on January 1 of each year beginning 2027 if prior-year collections exceed the 2024 baseline; the Department of Insurance would post notice of any reduced rate.
- The amendment set restored the present-law credit for retaliatory taxes paid by certain domestic insurers (amendments 2 and 13) rather than repealing it, reversing that portion of the original bill.

Industry witnesses and the author said the measure was intended to correct a competitive disadvantage that Louisiana companies face when selling insurance into other states: because Louisiana's statutory gross rates have been high but offset by credits, domestic companies can be disadvantaged in out-of-state markets; a simpler flat rate could generate retaliatory tax revenue when companies from higher-rate states write policies here and could make Louisiana more attractive for domestication of insurers.

Committee procedure and votes: the author offered a 13-amendment set (amendment set 17-32); the committee adopted the amendment package after discussion. Committee members expressed concern that the fiscal note should be updated in light of amendments; the author acknowledged LFO and Department of Insurance follow-up would be necessary. After amendment adoption the committee moved the bill forward.

Clarifying details from the hearing: the author and Secretary Nelson (and industry witnesses) said the HMO tax line is not covered by the bill and some of the premium-tax revenue streams are distinct (HMOs and other lines). The transcript records an LFO-style discussion of estimated ranges: the author's initial calculations placed a roughly $45 million impact for a 0.3-percentage-point net reduction and a larger gross fiscal shift depending on composition and credits; the amendment to restore the retaliatory-tax credit requires updated fiscal analysis.

Outcome: the committee adopted the amendment package and reported HB 594 favorably; the author and industry representatives asked LFO and the Department of Insurance to produce updated fiscal notes reflecting the amendments.","House Bill 594 would set a flat insurance-premium tax (proposed 1.66%) and repeal or narrow several investment credits and exemptions; the author and industry witnesses said the measure aims to make Louisiana more competitive with neighboring states and reduce premium burdens. The committee adopted a 13-amendment package and reported the measure.",{"_33":101,"_35":36,"_37":38,"_39":102,"_41":103,"_43":104,"_45":105,"_47":106,"_49":107,"_51":108,"_53":109,"_55":56,"_57":58,"_59":110,"_61":62,"_63":64,"_65":111,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6259649,"Committee advances senior standard-deduction increase and contingent income-tax cut amendment",768,2328000,3096000,"/Search/View?dp=1&key=3138922-96d86cb612d9fed1aecd4c564e7a0b46&start=2328&end=3096","https://assets.pipeline.soar.com/3138922-96d86cb612d9fed1aecd4c564e7a0b46/thumbnail_2328000.jpg","/articles/6259649/Louisiana/Committee-advances-senior-standard-deduction-increase-and-contingent-income-tax-cut-amendment","https://secure.pipeline.soar.com/6259649-69fe5231903fe78ebc8157946b45d977/orig.mp4?Expires=1770803756&Signature=BwZKMtQXzuXqvAAuj5T9rgbpkHBrw8rLCcYjU6rPphIxylpBfUURbGzWoifVYJxrqdq3xBU4pHGhqL2GebxLUKDW8u3gVccNpcwbUqUIiUTJ03YZHFikTOfIYi9w29TqdjcuYWkqcs3zfk6hqffa0-~fB-80ie1r84NxeVB4g2ekQOnQIYooODudYCZXbLPpyt6IO3urulK3ghpk9Ojt3yTpbBRsux2tgj9AlZ~DflJYKmXoiaRqZrrwl39~maxkdcXQfEPx4OEEc-cFVqgbW-ellzSbG79EzxTGZq3j-BdDOSiJKee~vuT01rSJDjDu60zzxMeYVzRp~OB2aZoi9A__&Key-Pair-Id=KUT5TJCACFTXG","House Bill 667 was presented April 28 as a measure to create a tax benefit for Louisiana residents age 65 and older by doubling the standard deduction for taxpayers 65 and over. The author said the item is contingent on the passage of the constitutional amendment contained in HB 472 that would free recurring revenue into the State General Fund.

The bill was amended (set 17-37) to add a personal income tax rate reduction from 3.00% to 2.75% that would take effect only if the constitutional amendment in HB 472 is approved and the related revenues are available. Chair Emerson and the author framed the amendment as a statement of fiscal intent: use some of the recurring revenue freed by the constitutional change to lower rates and reduce taxpayers' burdens.

Members asked for clarity on timing, fiscal exposure, and the size of the fiscal note. The author said the doubling of the standard deduction for taxpayers 65 and older was estimated by the fiscal note at roughly $74,000,000 annually; adding the proposed top-rate reduction was roughly estimated by the author to be on the order of $250,000,000 annually (transcript figures, pending LFO verification). The committee adopted the amendment set 17-37 and the bill as amended was moved forward favorably.

Procedural outcome: representatives conducted a roll-call on amendment set 17-37; the amendment was adopted and the committee reported HB 667 favorably as amended. The author said the measure is intended to be contingent on HB 472 (Article 7 rewrite) and to be coordinated with appropriations for sales-tax rate changes later in the session.

Context: supporters framed the measure as an affordability step for seniors and a signal to voters that the legislature intends to lower income tax rates as recurring revenue becomes available; critics on the committee expressed concern about reducing recurring revenue before LFO and appropriations could determine a firm fiscal picture. The bill will continue through committee and appropriations.","House Bill 667, as amended April 28, would double the standard deduction for taxpayers age 65 and older and include a contingent reduction in the top personal income tax rate to 2.75% if a companion constitutional amendment freeing recurring revenue (HB 472) is adopted. The committee adopted amendment set 17-37 and reported the bill favorably.","actionData","errors"]

Article not found

Committee advances bill to apply $2 billion to TRSL unfunded liability; speakers flag program trade-offs

Committee advances Article VII amendment to combine budget and revenue stabilization funds

Committee advances insurance-premium tax overhaul; bill would set a flat rate and narrow certain credits

Committee advances senior standard-deduction increase and contingent income-tax cut amendment