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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Louisiana eyes creating sovereign wealth fund from oil and gas revenues

Posted on 04 July 2016

Louisiana could create a sovereign wealth fund to help with budgeting and construction and infrastructure funding under a bill signed by Gov. John Bel Edwards earlier this month. The bill was signed by Mr. Edwards on June 17, roughly two weeks after it passed the state Legislature. It still needs voter approval on the ballot this fall to become a reality.
The Revenue Stabilization Trust Fund would be funded by excess oil and gas revenues, and corporate franchise and income tax revenues. The fund could help cover capital outlay projects or transportation infrastructure when its balance exceeds $5 billion, according to the bill text. Annual interest earnings could go toward general fund expenditures………………………………………..Full Article: Source


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