Louisiana Revised Statutes 39:100.59.1 – A. There is hereby created in the state treasury, as a special fund, the Southwest Louisiana Hurricane Recovery Fund, hereinafter referred to in this Section as the “fund”. Monies in
Terms Used In Louisiana Revised Statutes 39:100.59.1
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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 Southwest Louisiana Hurricane Recovery Fund, hereinafter referred to in this Section as the “fund”. Monies in the fund shall be used to assist in repairing structural damages caused by the 2020 hurricane season in Southwest Louisiana.
B. The treasurer is hereby authorized and directed to transfer thirty million dollars from the Louisiana Rescue Plan Fund into the fund in accordance with the provisions of the American Rescue Plan Act of 2021, P.L. 117-2, authorizing the use of the Coronavirus State Fiscal Recovery Fund for the provision of government services to the extent of a reduction in state revenues. 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.
Acts 2021, No. 410, §1, eff. June 17, 2021.