Louisiana Revised Statutes Tit. 39, § 100.118. Local Revenue Fund

A. There shall be established in the state treasury, as a special fund, the Local Revenue Fund, hereinafter referred to in this Section as the “fund”. After allocation of money to the Bond Security and Redemption Fund as provided for in Article VII of the Constitution of Louisiana, the treasurer shall deposit in and credit to the Local Revenue Fund the avails of the taxes imposed by R.S. 47:301.1(F) and any other revenue dedicated to the fund by the legislature. The legislature may appropriate additional sums to the fund.

B. The monies in the fund shall be used solely for distribution to ad valorem tax recipient bodies within a parish to offset losses attributable to business inventory exemptions to the ad valorem tax granted by a parish.

C. Monies in the fund shall be invested 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.