Louisiana - SB 251 - 2017

To amend and reenact R.S. 39:91 and to enact Subpart F-2 of Part II-A of Chapter 1 of Subtitle I of Title 39 of the Louisiana Revised Statutes of 1950, to be comprised of R.S. 39:99.51 through 99.69, relative to the issuance of bonds to securitize the state's allocation of the economic damage settlement of the Deepwater Horizon oil spill economic damage litigation; to create the Louisiana Economic Financing Corporation; to provide for the qualifications of the members of the Louisiana Economic Financing Corporation; to provide for the authority of the Louisiana Economic Financing Corporation to issue bonds; to provide for the sale of certain assets of the state to the Louisiana Economic Financing Corporation; to provide for the deposit of the proceeds of the sale into the Deepwater Horizon Economic Damages Collection Fund; to authorize the financing, purchase, ownership, and management of payments from the Deepwater Horizon economic damage settlement; to provide for the security for the payment of the bonds; to provide for bond validation actions; to provide for tax exemptions; to provide for ancillary contracts and derivative instruments; to provide for an effective date; and to provide for related matters.

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Added On: 04-30-2017
Updated On: 05-24-2017
Primary Sponsor: Eric LaFleur (Senate/Democratic)

Actions (9)

  • 04-19-2017 - Rules suspended. Introduced in the Senate. Read by title and placed on the Calendar for a second reading.
  • 04-20-2017 - Read second time by title and referred to the Committee on Finance.
  • 05-09-2017 - Rules suspended. Reported with amendments.
  • 05-10-2017 - Read by title. Committee amendments read and adopted. Ordered engrossed and passed to third reading and final passage.
  • 05-15-2017 - Read by title and returned to the Calendar, subject to call.
  • 05-17-2017 - Called from the Calendar.
  • 05-17-2017 - Senate floor amendments read and adopted. Read by title and passed by a vote of 30 yeas and 4 nays; ordered reengrossed and sent to the House. Motion to reconsider tabled.
  • 05-18-2017 - Received in the House from the Senate, read by title, lies over under the rules.
  • 05-22-2017 - Read by title, under the rules, referred to the Committee on Ways and Means.

Votes (1)

DateMotion (click for details)ChamberCommitteeYes
05-17-2017FINAL PASSAGE (#356)Senate3044yes