Louisiana Revised Statutes 40:1321.2 – Office of Motor Vehicles Special Identification Card Dedicated Fund Account
Terms Used In Louisiana Revised Statutes 40:1321.2
- 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, as a special statutorily dedicated fund account in the state treasury, the Office of Motor Vehicles Special Identification Card Dedicated Fund Account, hereafter referred to as the “Identification Card Account”.
B. After compliance with the requirements of La. Const. Art. VII, § 9(B) relative to the Bond Security and Redemption Fund, the treasurer shall pay an amount equal to one-third of the monies received by the state treasury pursuant to the provisions of La. Rev. Stat. 40:1321(C) into the Identification Card Account. Monies in the account shall be used for operational expenses of the Department of Public Safety and Corrections, public safety services. All unexpended and unencumbered monies in the account at the end of the fiscal year shall remain in the account. Monies in the account shall be invested by the state treasurer in the same manner as monies in the state general fund and shall be deposited into the state general fund.
C. Monies deposited into the Identification Card Account shall be available for appropriation in Fiscal Years 2026, 2027, 2032, 2033, 2038, and 2039.
D. Monies deposited into the Identification Card Account shall be categorized as fees and self-generated revenue for the sole purpose of reporting related to the executive budget, supporting documents, and general appropriations bill and shall be available for annual appropriation by the legislature.
E. The provisions of this Section shall be null, void, and of no effect beginning on July 1, 2039.
Acts 2021, No. 348, §2.