Louisiana Revised Statutes 39:100.52 – A. There is hereby created in the state treasury, as a special fund, the Water Sector Fund, hereinafter referred to in this Section as the “fund”. The treasurer is hereby authorized
Terms Used In Louisiana Revised Statutes 39:100.52
- 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.
- Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
- Program: means a grouping of activities directed toward the accomplishment of a clearly defined objective or set of objectives. See Louisiana Revised Statutes 39:2
A. There is hereby created in the state treasury, as a special fund, the Water Sector Fund, hereinafter referred to in this Section as the “fund”. The treasurer is hereby authorized and directed to transfer three hundred million dollars from the Louisiana Rescue Plan Fund into the Water Sector Fund.
B. Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on the investment of monies in the fund shall be deposited in and credited to the fund.
C. Monies in the fund shall be used to provide grant funding for repairs, improvements, and consolidation of water systems and sewer systems pursuant to the Water Sector Program as provided in La. Rev. Stat. 39:100.56.
D. The Engineering Fee Subfund, hereafter referred to in this Subsection as the “subfund”, is hereby created in the state treasury as a subfund in the Water Sector Fund. Monies appropriated or transferred to the subfund shall be deposited by the state treasurer after compliance with the provisions of La. Const. Art. VII, § 9(B) . Monies in the subfund shall be invested in the same manner as monies in the Water Sector Fund, and any interest earned on the investment of subfund monies shall be credited to the subfund. All unexpended and unencumbered monies in the subfund at the end of the fiscal year shall remain in the subfund. Monies in the subfund shall be used to provide grant funding to certain political subdivisions for engineering fees arising out of application to the Water Sector Program. No monies shall be expended from the subfund without approval of the Water Sector Commission.
Acts 2021, No. 410, §1, eff. June 17, 2021; Acts 2022, No. 167, §4, eff. May 30, 2022.