Louisiana Revised Statutes Tit. 47, § 302.21. Disposition of certain collections in Ascension Parish

A. The avails of the tax imposed from the sales of services as defined in R.S. 47:301.3(1) in Ascension Parish under the provisions of R.S. 47:302(C), 321(C), and 331(C) shall be credited to the Bond Security and Redemption Fund, and 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 shall pay the remainder of such funds into a special fund which is hereby created in the state treasury and designated as the “Ascension Parish Visitor Enterprise Fund”.

B. The monies in the Ascension Parish Visitor Enterprise Fund shall be used solely for promoting tourism and related purposes in Ascension Parish. The monies in the fund shall be subject to an annual appropriation by the legislature. All unexpended and unencumbered monies in the fund shall remain in the fund. The monies in the fund shall be invested by the treasurer in the same manner as the monies in the state general fund, and all interest earned shall be deposited into the state general fund. Monies appropriated out of the fund shall be distributed to and used by the parish governing authority of Ascension Parish and the governing authorities of each of the incorporated municipalities within Ascension Parish as follows: