La. Lawmakers May Be Tempted To Dip Into State Savings Account Prematurely

Louisiana State Capitol Building

Photo: Getty Images

Observers say Louisiana lawmakers may face the temptation to dip into the state savings account prematurely to pay for pet projects.

Voters approved of the creation of the account six years ago, and it's grown to about $1 billion through corporate and franchise taxes.

State law says the account must reach $5 billion before the legislature can access the money, which is intended to be spent on infrastructure.

But by a two-thirds vote, lawmakers can take money from the account whenever they want and spend it on whatever they want.

It would be a tempting alternative to raising taxes or cutting services.

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