HB824

Louisiana HB824 establishes a limit on the amount of state general fund appropriations in a fiscal year.

HB824 creates a limit on the total amount of recurring funds from the State General Fund that the legislature can appropriate each fiscal year. The limit, called the "growth limit," is calculated annually by the Revenue Estimating Conference and is based on the prior year's appropriations plus a growth factor. The growth factor includes the average annual percentage change in Louisiana's population and the chained-consumer price index. If the growth factor is negative, the growth limit equals the base.