Louisiana Revised Statutes 39:100.57 – A. There is hereby created in the state treasury, as a special fund, the “Louisiana Coronavirus Capital Projects Fund”, hereinafter referred to in this Section as the “fund”. Monies
Terms Used In Louisiana Revised Statutes 39:100.57
- 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
A. There is hereby created in the state treasury, as a special fund, the “Louisiana Coronavirus Capital Projects Fund”, hereinafter referred to in this Section as the “fund”. Monies in the fund shall be expended in accordance with the American Rescue Plan Act of 2021, P.L. 117-2, and subsequent guidance promulgated by the United States Treasury.
B. The state treasurer is hereby authorized and directed to deposit in and credit to the fund any federal monies allocated to Louisiana pursuant to the Coronavirus Capital Projects Fund of the American Rescue Plan Act of 2021.
C. Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on investment of monies in the fund shall be credited to the fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.
D. Monies in the fund shall be allocated as provided in this Subpart.
Acts 2021, No. 410, §1, eff. June 17, 2021.