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Rs 47:302.2 Disposition Of Certain Collections In The City Of Shreveport

§302.2. Disposition of certain collections in the city of Shreveport

A. The avails of the tax imposed by this Chapter from the sale of services as defined

in R.S. 47:301(14)(a) in the city of Shreveport under the provisions of this Chapter 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 "Shreveport Riverfront and Convention Center and Independence Stadium

Fund".

B. The monies in the Shreveport Riverfront and Convention Center and

Independence Stadium Fund shall be subject to annual appropriation by the legislature.

Except as provided in Subsections D and E of this Section, the monies in the fund shall be

available exclusively for the purposes provided in Subsection C of this Section. 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.

C. Subject to an annual appropriation by the legislature, monies in the fund shall be

used as follows:

(1) For allocation from all monies in the fund in the following amounts:

(a) Three percent to the Theater of the Performing Arts of Shreveport.

(b) One and one-half percent to be divided equally with fifty percent to Pamoja Art

Society and fifty percent to Rho Omega and Friends, Inc., and one and one-half percent for

the Shreveport Bossier African American Chamber of Commerce.

(c) Two and two-thirds percent for Sci-Port Discovery Center.

(d) One and one-third percent deposited into a special account in the fund for the

expenditure and exclusive use of the Louisiana State Exhibit Museum in Shreveport. All

unexpended and unencumbered monies in this special account at the close of the fiscal year

shall remain in the account.

(e) Three percent for the following:

(i) One percent for the New Arts Cultural Society, Inc.

(ii) One percent for Pamoja Art Society.

(iii) One percent for the Sci-Port Discovery Center for outreach activities to

underserved populations.

(f) The monies allocated to the entities in Subparagraph (c) of this Paragraph shall

be used to pay for admission costs for Caddo Parish school system students who meet the

definition of "At-Risk Children" as defined by the State Board of Elementary and Secondary

Education. The monies allocated to the Louisiana State Exhibit Museum in Shreveport shall

be deposited in the general operating budget of that entity.

(g)(i) The Redbud Festival in Vivian, five thousand dollars.

(ii) The Sunflower Festival in Gilliam, five thousand dollars.

(iii) The Poke Salad Festival in Shreveport, five thousand dollars.

(iv) The Oil City Gusher Days in Oil City, five thousand dollars.

(2) All other monies remaining in the fund shall be used for riverfront and

convention center development in the city of Shreveport and for renovation, expansion, or

maintenance of Independence Stadium and related facilities in Shreveport, including but not

limited to capital improvements with respect thereto. Bonds may be issued for purposes

authorized in this Section payable from a pledge and dedication of monies to be used for

such purposes as provided in this Section. For the purposes of this Section, "capital

improvements" shall mean expenditures for acquiring lands, buildings, equipment or other

permanent properties, or for their construction, preservation, development, or permanent

improvement, or for payment of principal, interest, or premium, if any, and other obligations

incident to the issuance, security, and payment of bonds or other evidences of indebtedness

associated therewith.

D. Notwithstanding any other provision of this Section to the contrary, for the 2012-2013 Fiscal Year monies in the fund may be made available for the LSU Health Sciences

Center Shreveport provided, however, that any distributions of monies to the LSU Health

Sciences Center Shreveport shall occur in equal quarterly amounts after the distributions to

entities which have pledged or dedicated such monies into bonds have been made each

quarter.

E. Notwithstanding any other provision of this Section to the contrary, for the 2013-2014 Fiscal Year, the amount of seventy-five thousand dollars shall be allocated to the

Secretary of State for the restoration of the Shreveport Water Works Museum.

Acts 1992, No. 957, §1, eff. July 1, 1992; Acts 1999, No. 1071, §1, eff. July 1, 1999;

Acts 2001, No. 458, §1, eff. June 21, 2001; Acts 2005, No. 476, §1, eff. July 1, 2005; Acts

2011, No. 378, §1, eff. July 1, 2011; Acts 2012, No. 597, §3, eff. July 1, 2012; Acts 2013,

No. 420, §6, eff. July 1, 2013; Acts 2014, No. 646, §4, eff. July 1, 2014; Acts 2016, No. 601,

§3, eff. June 17, 2016.

NOTE: See Acts 1992, No. 957, §2 as amended by Acts 1999, No. 1071,

§§2 and 3 and R.S. 47:332.6.

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

Keywords
shreveport
monies
fund
port
percent
center
pay
allocated
equal
fiscal