Louisiana Senate Bill SB12

Louisiana 2017 Regular Session

• Introduced: 3/8/17
• Refer: 3/8/17
• Refer: 4/10/17
• Report Pass: 5/8/17
• Engrossed: 5/11/17
• Refer: 5/15/17
• Report Pass: 5/30/17
• Enrolled: 6/6/17
• Chaptered: 6/22/17
• Passed: 6/22/17

Caption

Re-creates the Department of the Treasury and its agencies. (6/30/17) (EN NO IMPACT See Note)

Impact

The bill re-establishes the Department of the Treasury's authority, which had been set to terminate under prior statutes. By ensuring that the Department continues to exist, SB12 allows the state to maintain its financial management and oversight mechanisms. This move is seen as essential for safeguarding public funds and ensuring accountability within state financial operations. The transitional provisions are designed to prevent disruption in the services provided by the Treasury department.

Summary

Senate Bill 12 aims to re-create the Louisiana Department of the Treasury and the statutory entities associated with it. The bill includes provisions that allow the Department to maintain its operational authority until a specified termination date of July 1, 2023, unless re-created prior. This action ensures continuity for the department's governance and functions, which are crucial for managing state funds and fiscal responsibilities.

Sentiment

The sentiment around SB12 has been generally favorable among legislators, as it highlights the importance of a stable financial oversight body within the Louisiana government. Supporters believe that the continuity of the Department of the Treasury is vital for the state's fiscal integrity. There were no noted dissenting votes during the voting process, indicating a consensus on the importance of the bill among legislators.

Contention

Although there was broad support for SB12, concerns could arise in the future regarding the operational limits or scope of authority that the re-created Treasury Department will maintain. Opponents might argue about the necessity of specific statutory entities within the Department or suggest that their functions could be better handled elsewhere. Nonetheless, the immediate focus remains on ensuring that the Treasury continues to operate without interruption.