Louisiana § RS 3:1612.1 - Disposition of funds

§ RS 3:1612.1. Disposition of funds

            A. All fees, penalties, and other funds received under the provisions of this Part shall be disposed of in accordance with the following provisions:

            (1) All fees, penalties, and all other funds received by the commission under the provisions of this Part, subject to the exceptions contained in Article VII, Section 9 of the Constitution of Louisiana, shall be deposited immediately upon receipt into the state treasury and shall be credited to the Bond Security and Redemption Fund.

            (2) Out of the funds remaining in the Bond Security and Redemption Fund after a sufficient amount is allocated from that fund to pay all obligations secured by the full faith and credit of the state which become due and payable within any fiscal year, the treasurer, prior to placing the remaining funds in the state general fund, shall pay an amount equal to the total amount of funds paid into the state treasury by the commission under the provisions of this Part into the Horticulture and Quarantine Fund.

            (3) All unexpended and unencumbered monies received from fees and penalties in the fund at the end of each fiscal year shall remain in the Horticulture and Quarantine Fund. The monies in the fund shall be invested by the treasurer in the same manner as monies in the state general fund. All interest earned on monies from the fund invested by the state treasurer shall be deposited in the fund.

            B. Subject to appropriation, the monies in the fund shall be used for the following purposes:

            (1) To provide for the expenses of the program established by this Part and the expenses of the office of agricultural and environmental sciences, as determined by the commissioner.

            (2) To fund any and all costs related to the eradication of boll weevils, utilizing any or all powers granted to the commissioner or the department.

            Acts 2019, No. 185, §1, eff. June 11, 2019.