Louisiana § RS 39:100.51 - Louisiana Rescue Plan Fund; purpose

§ RS 39:100.51. Louisiana Rescue Plan Fund; purpose

            A. There is hereby created in the state treasury, as a special fund, the "Louisiana Rescue Plan Fund", hereinafter referred to in this Section as the "fund". The state treasurer is authorized and directed to deposit in and transfer into the fund any federal monies allocated to Louisiana pursuant to the Coronavirus State Fiscal Recovery Fund of the American Rescue Plan Act of 2021.

            B.(1) The state treasurer is hereby authorized and directed to transfer five hundred sixty-three million dollars out of the Louisiana Rescue Plan Fund into the Construction Subfund of the Transportation Trust Fund in accordance with the provisions of the American Rescue Plan Act of 2021, P.L. 117-2, authorizing the use of the Coronavirus State Fiscal Recovery Fund for the provision of government services to the extent of a reduction in state revenues.

            (2) The state treasurer is hereby authorized and directed to transfer fifteen million dollars out of the Louisiana Rescue Plan Fund into the Legislative Capitol Technology Enhancement Fund in accordance with the provisions of the American Rescue Plan Act of 2021, P.L. 117-2, authorizing the use of the Coronavirus State Fiscal Recovery Fund for the provision of government services to the extent of a reduction in state revenues.

            (3) The state treasurer is hereby authorized and directed to transfer the amount of ten million dollars out of the Louisiana Rescue Plan Fund into the Major Events Fund.

            (4) The state treasurer is hereby authorized and directed to transfer the amount of five million dollars out of the Louisiana Rescue Plan Fund into the Health Care Employment Reinvestment Opportunity (H.E.R.O.) Fund, in the event that Senate Bill No. 229 of the 2021 Regular Session of the Legislature is enacted into law.

            C. Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on investment of monies in the fund shall be credited to the fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.

            D. Monies in the fund shall be allocated as provided in this Subpart and may be appropriated for the Clearing Account of the Unemployment Compensation Fund pursuant to R.S. 23:1491.

            E. If the legislature is not in session, the Joint Legislative Committee on the Budget is authorized to appropriate monies from the Louisiana Rescue Plan Fund or any of the funds created pursuant to this Subpart by approving a budget adjustment by BA-7. Any such appropriation shall be consistent with guidance promulgated by the United States Treasury. The committee is further authorized to approve the transfer of funds between any of the funds created pursuant to this Subpart by approving a budget adjustment by BA-7. Pursuant to approval of a BA-7, monies in the fund may be used to provide funding for infrastructure projects administered by the Department of Transportation and Development.

            Acts 2021, No. 410, §1, eff. June 17, 2021.