§302.19. Disposition of certain collections in Lafourche Parish
A. The avails of the tax imposed by this Chapter from the sales of services as defined in R.S. 47:301(14)(a) in Lafourche Parish under the provisions of R.S. 47:302(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 "Lafourche Parish Enterprise Fund".
B. The monies in the Lafourche Parish Enterprise Fund shall be subject to an annual appropriation by the legislature. The monies in the fund shall be available to the Lafourche Parish Tourist Commission to fund the development of tourism and other economic growth projects within the parish of Lafourche. 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.
Acts 1995, No. 761, §1, eff. July 1, 1995.