Louisiana spending plan to pay down debts signed into law
BATON ROUGE (AP) - Louisiana is using millions of unbudgeted cash from the last two budget years to pay down state debts.
A spokesman for Gov. John Bel Edwards said Friday that the governor has signed the spending plan into law.
Nearly $89 million will pay down a debt owed to managed-care companies that oversee services for most Louisiana Medicaid patients. More than $50 million will pay off legal judgments against the state.
Another $12 million will lessen state retirement debt. More than $21 million will pay FEMA for part of Louisiana's share of ongoing disaster recovery efforts. Other dollars will cover the state's obligations to economic development commitments.
The money includes a surplus left from the budget year that ended June 30 and unspent money from this year.
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