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Louisiana Revised Statutes Tit. 39, § 100.254. Modernization and Security Fund

Current as of January 01, 2023 | Updated by Findlaw Staff

A. There is hereby established in the state treasury, as a special fund, the Modernization and Security Fund, hereinafter referred to in this Section as the “fund”.

B. After allocation of money to the Bond Security and Redemption Fund as provided in Article VII, Section 9(B) of the Constitution of Louisiana, the treasurer shall deposit into the fund any monies transferred or appropriated by the legislature. The treasurer shall also deposit into the fund any grants, donations, gifts, or other monies which may become available.

C. All unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund. The 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 credited to the fund.

D. The monies in the fund shall be utilized for the following:

(1) Providing for payments of major repairs on state infrastructure.

(2) Providing for payments on acquisitions for state agencies.

(3) Providing for financial investment into information technology initiatives within state agencies.

(4) Providing for investment into security initiatives at state agencies.

(5) Any remaining monies in the fund shall be used solely for various initiatives focused on ensuring technological adequacy and security of the state.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 39, § 100.254. Modernization and Security Fund - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-39-sect-100-254/

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