Louisiana Revised Statutes 39:100.58 – A. There is hereby created in the state treasury, as a special fund, the “Louisiana Small Business and Nonprofit Assistance Fund”, hereinafter referred to in this Section as the “fun
Terms Used In Louisiana Revised Statutes 39:100.58
- 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 “Louisiana Small Business and Nonprofit Assistance Fund”, hereinafter referred to in this Section as the “fund”. Monies in the fund shall be used to provide grants to small businesses and nonprofits for the administration of COVID-19 response and relief efforts in accordance with the provisions of the Louisiana Small Business and Nonprofit Assistance Program as provided in La. Rev. Stat. 39:100.44.2.
B. The treasurer is hereby authorized and directed to transfer ten million dollars from the Louisiana Rescue Plan Fund into the fund. 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. Any remaining balance in the fund on June 30, 2023, shall be transferred to the Louisiana Rescue Plan Fund.
Acts 2021, No. 410, §1, eff. June 17, 2021.