Louisiana Revised Statutes Tit. 17, § 1792. Supporting Programs, Opportunities, Resources, and Teams Fund

A. There is hereby created in the state treasury a special fund to be known as the Supporting Programs, Opportunities, Resources, and Teams Fund, hereafter in this Section referred to as the “fund”.

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

C. After compliance with the provisions of Article VII, Section 9(B) of the Constitution of Louisiana relative to the Bond Security and Redemption Fund, the state treasurer shall deposit into the fund all monies dedicated, transferred, or appropriated to the fund. Monies in the fund shall be appropriated to the Board of Regents for distribution to athletic departments at public universities that are members of conferences that compete in NCAA Division One athletics at the Football Bowl Subdivision and Football Championship Subdivision levels in Louisiana for the benefit of student athletes. For the purposes of this Section, “benefit” means scholarships, insurance, medical coverage, facility enhancements, litigation settlement fees, and Alston awards. Each university shall establish eligibility criteria for benefits awarded pursuant to the provisions of this Section.

D. Monies from the fund shall not be used to displace, replace, or supplant any other awards or scholarships.

E. The Board of Regents shall distribute funds received pursuant to the provisions of this Section equally among eligible institutions. Each eligible university athletic department shall receive an equal distribution of funds for use in accordance with the provisions of this Section.