Louisiana Revised Statutes 51:1058 – Live Well Louisiana Fund
Terms Used In Louisiana Revised Statutes 51:1058
- 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 in the state treasury, as a special fund, the Live Well Louisiana Fund, hereinafter referred to as the “fund”.
B.(1) The source of monies deposited into the fund shall be any monies appropriated annually by the legislature, including federal funds, any public or private donations, gifts, or grants from individuals, corporations, nonprofit organizations, or other business entities which may be made to the fund, and any other monies which may be provided by law.
(2) Monies in the fund shall be invested in the same manner as monies in the state general fund and interest earned on investment of monies in the fund shall be credited to the state general fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.
C. Subject to an annual appropriation by the legislature, monies in the fund shall be used as directed by the council solely to fund grants and projects which will address the goals and objectives of reducing poverty and promoting well-being in the state.
Acts 2018, No. 581, §1, eff. May 31, 2018.