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Rs 32:868 Funding Of Real-Time System To Verify Motor Vehicle Insurance; Insurance Verification System Fund; Creation

§868. Funding of real-time system to verify motor vehicle insurance; Insurance Verification

System Fund; creation

A. Of the reinstatement fees assessed in R.S. 32:863(A)(3)(a), an amount of

seventy-five dollars from each reinstatement fee levied for lack of required security up to

thirty days, one hundred fifty dollars from each reinstatement fee levied for lack of required

security between thirty-one days and ninety days, and three hundred dollars from each

reinstatement fee levied for lack of security for in excess of ninety days, and of the

reinstatement fees assessed in R.S. 32:863.1(C)(1)(c) and (I)(3) an amount of fifty dollars

from each first offense and one hundred dollars from each second offense, shall be, after first

having been credited to the Bond Security and Redemption Fund as required by Article VII,

Section 9(B) of the Louisiana Constitution, deposited into the Insurance Verification System

Fund.

B. There is hereby created in the state treasury the Insurance Verification System

Fund, hereinafter referred to as the "fund". Monies in the fund shall be invested in the same

manner as monies in the state general fund. Interest earned on investment of monies in the

fund shall be deposited in and credited to the fund. The monies in this fund shall be used

solely as provided for in this Section and only in the amounts appropriated by the legislature.

Unexpended and unencumbered monies in the fund shall remain in the fund. Monies in the

fund shall be used in amounts appropriated by the legislature as follows:

(1) For Fiscal Year 2014-2015, monies in the fund shall be used as follows:

(a) First, to fully fund the creation and maintenance of the real-time system to verify

motor vehicle insurance authorized by R.S. 32:863.2(F).

(b) The next forty-two million dollars shall be dedicated to the Department of Public

Safety and Corrections, office of state police.

(c) The remainder of deposits shall be used for public safety and law enforcement

purposes.

(2) For Fiscal Year 2015-2016 and each fiscal year thereafter, monies in the fund

shall be used as follows:

(a) First, to fully fund the annual maintenance of the real-time system to verify motor

vehicle insurance authorized by R.S. 32:863.2(F).

(b) Next, the amount needed to fund the increase in the costs of salaries and related

benefits associated with the pay plan adopted by the State Police Commission, not to exceed

forty-two million dollars per year, shall be dedicated to the Department of Public Safety and

Corrections, office of state police.

(c) In the event House Bill No. 562 of the 2014 Regular Session of the Legislature

is enacted into law, the next seven million dollars per year shall be used to fund the housing

of parolees who are detained in sheriffs' jails pending their revocation hearing as provided

in R.S. 15:824(B)(1)(e)(ii).

(d) The next one million dollars per year shall be used to provide additional funding

to district attorneys and assistant district attorneys, specifically to fund additional assistant

district attorneys beginning in 2015.

(e) The remainder of monies in the fund shall be used for public safety and law

enforcement purposes.

(3) Funds from the Insurance Verification System Fund shall not be used to pay any

costs associated with the implementation of a system for the issuance of REAL ID compliant

drivers' licenses and special identification cards.

Acts 2014, No. 641, §1, eff. July 1, 2014; Acts 2015, No. 121, §1, eff. July 1, 2015.

NOTE: HB No. 562 of the 2014 R.S. was enacted as Act 652 of the 2014 R.S.

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Local Government
Louisiana
3
1
0
John Bel Edwards
John Bel Edwards
January 11, 2016 -
Democratic
1-225-342-4404
900 North 3rd Street, Baton Rouge, LA, 70802

Keywords
fund
dollars
monies
insurance
fee
security
reinstatement
verification
pay
million