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Louisiana Revised Statutes Tit. 49, § 308.3. Special funds; accounts; dedication of money

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

A. Notwithstanding any other law to the contrary and except as provided by the Constitution of Louisiana and Subsection B of this Section, all special funds in the state treasury are abolished and any and all laws of the state which dedicate or otherwise provide for the use of money required by the Constitution of Louisiana to be deposited in the state treasury are superseded on the effective date of this Section. The treasurer is therefore authorized and directed to transfer the balances of the abolished funds and deposit them into the general fund. Notwithstanding laws requiring certain money to be deposited in and credited to such abolished special funds, the treasurer, upon receipt of such money, and after compliance with the requirements of Article VII, Section 9(B) of the constitution relative to the Bond Security and Redemption Fund, shall deposit the money in and credit it to the general fund. All interest earned on investment of the money shall be deposited in and credited to the general fund.

B. This Section shall not apply to or affect the laws which dedicate or otherwise provide for the use of the following money or the laws which provide for the following special funds in the state treasury:

(1) Special funds or dedications of money established in or protected by the Constitution of Louisiana or special funds containing money not required by the constitution to be deposited in the state treasury.

(2) Special funds established in the treasury or dedications of money established solely as a requirement of the terms and conditions of, or as a requirement of an agreement pertaining to, the following:

(a) Grants, donations, or other forms of assistance.

(b) Court or regulatory agency orders or judgments.

(c) Contracts of the state or of its agencies, boards, or commissions, including contracts related to the issuance of bonds, notes, and other indebtedness.

(d) A contract concerning the satisfaction of final judgments, settlements, or compromises.

(3) Special funds and dedications of money provided by law for money received by or on behalf of a state board, agency, authority, or commission which is mainly composed of and represents members of a trade, business, or professional association from fees or assessments paid by the members of the trade, business, or professional association and which expends the money on market or product research and development.

(4) Special funds and dedications of money provided by law funded by assessments or surcharges for the satisfaction of final judgments, settlements, orders, awards, or compromises.

(5) Special funds and dedications of money provided by law related to the judiciary.

(6) Any funds including interest earned thereon which are paid or deposited on a voluntary basis by persons or other private legal entities for their protection or benefit.

(7) The Hazardous Waste Site Cleanup Fund created and maintained pursuant to R.S. 30:2205 and the Environmental Trust Dedicated Fund Account created and maintained pursuant to R.S. 30:2015.

C. This Section shall not apply to or affect R.S. 47:5001 et seq. relative to the State Tax Revenue Limit.

D. This Section shall not apply to the Motorcycle Safety, Awareness, and Operator Training Program Dedicated Fund Account as provided in R.S. 32:412(C)(2), the Proprietary School Student Protection Dedicated Fund Account as provided for in R.S. 17:3140.11.

E. Not later than March first of each fiscal year, the treasurer shall submit to the Joint Legislative Committee on the Budget and the legislative fiscal office a report on special funds which shall include but not be limited to a listing of all currently authorized special funds created by the legislature, together with the legal citation, date of creation, cash balance in the fund as of the end of the prior fiscal year, and a notation of whether or not any revenue or expenditure activity has occurred during the prior fiscal year.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 49, § 308.3. Special funds; accounts; dedication of money - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-49-sect-308-3/

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