§302.13. Disposition of certain collections in Iberia Parish
A. The avails of the tax imposed by this Chapter and by Chapters 2-A and 2-B of this Subtitle from the sale of services as defined in R.S. 47:301(14)(a) in Iberia Parish shall be credited to the Bond Security and Redemption Fund and after a sufficient amount is allocated from that fund to pay all the 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 "Iberia Parish Tourist Commission Fund".
B. The monies in the Iberia Parish Tourist Commission Fund shall be subject to annual appropriation by the legislature. All unexpended and unencumbered 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. The monies in the Iberia Parish Tourist Commission Fund shall be allocated to the Iberia Parish Tourist Commission to be used for tourism development purposes.
Acts 1993, No. 472, §1, eff. July 1, 1993; Acts 2000, 2d Ex. Sess., No. 10, §1.