Does the amendment change any funds?

Yes. The constitutional amendment categorizes certain trust funds and places restrictions on the dedications to and expenditures from those funds.

A. “Constitutional Funds” - these funds are established and protected in the constitution. A constitutional amendment is required to make any changes. The following funds are designated as constitutional funds:

1. The Bond Security and Redemption Fund

2. Budget Stabilization Fund

3. Transportation Trust Fund

4. Coastal Protection and Restoration Fund

5. Wildlife and Fisheries Conservation Fund

6. Hospital Stabilization Fund

7. Louisiana Medical Assistance Trust Fund

B. “Permanent Trust Funds” – these funds require a constitutional amendment to change the dedication/purpose of the trust corpus. The constitution prohibits the legislature from spending the trust balance, but allows the expenditure of investment earnings. The expenditure of these investment earnings can be changed with a 2/3 vote of the legislature. The following funds are designated as permanent trust funds:

1. The Millennium Trust Fund

   • For the TOPS Fund, the original corpus is protected and the annual deposit of revenues can be spent for the TOPS program.

2. The Louisiana Unclaimed Property Permanent Trust Fund

C. “Program Funds” - these funds require a 2/3 vote of the legislature to change the expenditure of the trust corpus or the expenditure of the investment earnings. The following funds are designated as program funds:

1. The Artificial Reef Development Fund

2. The Oil Spill Contingency Fund

3. The Oilfield Site Restoration Fund

4. The Louisiana Fund

5. The Local Revenue Fund

The constitutional amendment repeals:

1. The Mineral Revenue Audit and Settlement Fund

2. Louisiana Education Quality Trust Fund

3. The Louisiana Quality Education Support Fund

4. The Education Excellence Fund

The balances of the funds listed below will be used to make a payment toward the retirement debt of the Teacher’s Retirement System. The savings realized from this payment must be used to provide a permanent pay raise to teachers and certain school personnel.

1. Louisiana Education Quality Trust Fund

2. The Louisiana Quality Education Support Fund

3. The Education Excellence Fund