HB 29 — CLERKS OF COURT: Provides for the creation of the Ascension Parish retired employee insurance fund

HLSENROLLED 26RS-239 ENGROSSED Regular Session HOUSE BILL NO.

29 BY REPRESENTATIVE BACALA CLERKSAN OFACT COURT:To enact R.S.

Provides for the creation of the Ascension Parish retired employee insurance fund AN ACT To enact R.S.

C.

Upon recommendation of the investment advisory board established in Subsection F of this Section, the clerk of Ascension Parish shall invest the monies as follows:

HLS 26RS-239 ENGROSSED HB NO.

29 (1)ENROLLED NotC. less than twenty-five percent in equities.

Upon recommendation of the investment advisory board established in Subsection F of this Section, the clerk of Ascension Parish shall invest the monies as follows:

(1) Not less than twenty-five percent in equities.

(2) In the event that the total amount of monies derived from deposits providedinSubsectionprovidedinSubsectionBofthisSectionandinvestmentearningsfallbelowthesum BofthisSectionandinvestmentearningsfallbelowthesum offourmilliondollars,noearningsshallbewithdrawn,andanybalanceowedforthe payment of insurance premium costs as required by R.S.

13:783 or legal representationcostsrepresentationcostsfortheAPCOCREIFBoardshall forbepaidinfull from the APCOCREIFBoardshallclerk's bepaidin full fromtheclerk's general fund.

HLS 26RS-239 ENGROSSED HB NO.

29 (3)ENROLLED (4) The members of the board shall elect a chairperson at its first board meeting, which shall be held within thirty days after the appointment of board members.

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ItPage constitutes3 nopart of the3 legislativeCODING: instrument.

The keyword, one-liner, abstract, and digest do not constitute part of the law or proof or indicia of legislative intent.

[R.S.

1:13(B) and 24:177(E)] HB 29 Engrossed 2026 Regular Session Bacala Abstract:

Creates the Ascension Parish Clerkof Court Retired Employees InsuranceFund to fund the payment by the clerk of Ascension Parish of the premium costs for eligible retired clerks and retired deputyclerks.

Proposed law creates the Ascension Parish Clerk of Court Retired Employees Insurance Fund (APCOCREIF), to fund the payment bythe clerk of Ascension Parish of the premium costs for eligible retired clerks and retired deputyclerks.

Proposed law authorizes the clerk to contribute to the APCOCREIF at his discretion.

Proposed law requires investment of the deposits in the fund to be not less than 25% in equities and at lease 25% in fixed income investments provided that a minimum of 75% of the fixed income portion is rated as investment grade by a nationally recognized rating agency.

Proposedlawpermitsthewithdrawaloffundsforthesolepurposeofpayinginsurancecosts for retired clerks, retired deputy clerks, and legal representation costs of the APCOCREIF.

Proposed law prohibits the withdrawal of any funds until the amount of principal and accumulated earnings in the APCOCREIF are equal to $5M.

In the event the fund falls below $4M, any balance owed for the payment of insurance premium costs or legal representationcostsfortheAPCOCREIFBoardshallbepaidinfullfromtheclerk's general fund.

Proposedlawrequiresanyfinancialauditconductedoftheclerk'sofficeofAscensionParish to specifically address compliance with proposed law.

Proposed law establishes an investment advisory board to provide recommendations concerningtheinvestment offundsin theAPCOCREIF.

Provides forthreemembersofthe board to be appointed by the clerk to include the clerk or his designee, one retired clerk of or retired deputy clerk, and one active deputy clerk.

Provides that the chairperson of the board shall be elected at its first board meeting which shall be held within 30 days after the members are appointed.

Effective August 1, 2026.

(Adds R.S.

13:783.2) Page 3 of 3 CODING: