The report noted a billion dollars in federal COVID-19 relief funds came to the state, and there has been a decline in earnings from the investments of the state's defined benefit pension fund for state and local employees.
The state's pension fund might be on more solid ground after voters recently passed a constitutional amendment. This past Saturday, Louisiana voters passed Amendment 3 with 56% in favor, which requires lawmakers to apply 25% of the state's nonrecurring revenues to the state's pension debt.
Last year, the report said the individual taxpayer burden for Louisiana was $14,100 and ranked the state 38th.
This year's report – which uses the state's comprehensive annual financial reports – says 28 states, down from 31 in 2022, didn't have enough money to pay their bills.
The report noted a billion dollars in federal COVID-19 relief funds came to the state, and there has been a decline in earnings from the investments of the state's defined benefit pension fund for state and local employees.
The state's pension fund might be on more solid ground after voters recently passed a constitutional amendment. This past Saturday, Louisiana voters passed Amendment 3 with 56% in favor, which requires lawmakers to apply 25% of the state's nonrecurring revenues to the state's pension debt.
Last year, the report said the individual taxpayer burden for Louisiana was $14,100 and ranked the state 38th.
This year's report – which uses the state's comprehensive annual financial reports – says 28 states, down from 31 in 2022, didn't have enough money to pay their bills."
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