Regular Session News #28: Legislative Session - Week in Review
Jun 24, 2016
Gov. John Bel Edwards recently signed into law several pieces of legislation from the regular session that affect TRSL:- House Bill 14, now Act 621 (Pearson) replaces the chair of the House retirement committee with any member of the committee appointed by the House speaker to serve on each state and statewide retirement board.
- House Bill 603, now Act 679 & House Bill 696, now Act 639 (Leger) proposes that a constitutional amendment be placed before voters on the November ballot to establish the Revenue Stabilization Trust Fund and to provide for the allocation of mineral revenues. A portion of the mineral revenues allocated in the proposed constitutional amendment would be dedicated to the UAL after certain thresholds are reached. Act 639 is companion legislation to Act 679. This legislation will become effective only if the constitutional amendment set forth in Act 679 is approved by voters in November.
- House Bill 1093, now Act 460 (Ivey) requires the legislative auditor to report on the actuarial assumptions and funded ratios of each of the four state public retirement systems, and determine the appropriateness of these assumptions at least every five years.
To view all of the bills that TRSL monitored during the Regular Session, please visit the Legislation page of our website.