Louisiana Revised Statutes 28:842 – Compulsive and Problem Gaming Fund; creation
Terms Used In Louisiana Revised Statutes 28:842
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
A. There is hereby created, as a special fund in the state treasury, the Compulsive and Problem Gaming Fund.
B. After compliance with the requirements of La. Const. Art. VII, § 9(B) , an amount equal to the monies received by the state treasury pursuant to the provisions of La. Rev. Stat. 27:92(B)(2)(a), 270(A)(2), and 312(B)(2)(a), and La. Rev. Stat. 47:9029(B)(2) shall be deposited into the Compulsive and Problem Gaming Fund. All unexpended and unencumbered monies in the fund at the end of any fiscal year shall remain in the fund for use in subsequent fiscal years. Monies in the fund shall be invested by the state treasurer in the manner as monies in the state general fund and interest earned on the investment of such monies shall be credited to the fund after compliance with the requirements of La. Const. Art. VII, § 9(B) . Monies in the fund shall only be withdrawn pursuant to an appropriation by the legislature solely to implement the provisions of this Chapter.
C. All monies received by the state treasury pursuant to the provisions of La. Rev. Stat. 27:92(B), 270(A)(3), 312(B), and 319(A) shall be deposited into the Compulsive and Problem Gaming Fund. The monies in the Compulsive and Problem Gaming Fund shall be appropriated by the legislature solely to implement the provisions of this Chapter.
Acts 1995, No. 1014, §2; Acts 1995, No. 1215, §2, eff. July 1, 1995.