Louisiana Revised Statutes 47:302.5 – Disposition of certain collections in Vernon Parish
Terms Used In Louisiana Revised Statutes 47:302.5
- 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.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Sale: means any transfer of title or possession, or both, exchange, barter, conditional or otherwise, in any manner or by any means whatsoever, of tangible personal property, for a consideration, and includes the fabrication of tangible personal property for consumers who furnish, either directly or indirectly, the materials used in fabrication work, and the furnishing, preparing or serving, for a consideration, of any tangible personal property, consumed on the premises of the person furnishing, preparing or serving such tangible personal property. See Louisiana Revised Statutes 47:301
- use: include the donation of food items to a food bank as defined in Louisiana Revised Statutes 47:301
A. The avails of the tax imposed by this Chapter from the sale of services as defined in La. Rev. Stat. 47:301(14)(a) in Vernon Parish under the provisions of this Chapter shall be credited to the Bond Security and Redemption Fund, and after a sufficient amount is allocated from that fund to pay all the obligations secured by the full faith and credit of the state which become due and payable within any fiscal year, the treasurer shall pay the remainder of such funds into a special fund which is hereby created in the state treasury and designated as the “Vernon Parish Legislative Community Improvement Fund”.
B. The monies in the Vernon Parish Legislative Community Improvement Fund shall be subject to annual appropriations by the legislature. The monies in the fund shall be available exclusively for the purposes provided for in Subsections C and E of this Section. All unexpended and unencumbered monies in the fund shall remain in the fund. The monies in the fund shall be invested by the treasurer in the same manner as the monies in the state general fund, and all interest earned shall be deposited into the state general fund.
C. For purposes of this Section, “improvements” shall include acquisition of land and acquisition and construction of buildings for use by the Vernon Convention Facility; other capital improvements in Vernon Parish; and any other costs of improvements, operation, or maintenance in Vernon Parish for recreational facilities, museums, fishing ramps, and parks.
D. The Vernon Parish Legislative Community Improvement Board shall consist of those state senators and representatives representing all or a part of Vernon Parish.
E. Beginning July 1, 2004, money paid into the Vernon Parish Legislative Community Improvement Fund shall be appropriated, distributed, and used as follows:
(1) Twenty percent of the money shall be appropriated to the Vernon Parish Tourist and Recreation Commission to be administered and distributed by the commission to be used for improvements in Vernon Parish as that term is defined in Subsection C of this Section. Administrative costs or debt service associated with this Subsection shall be no more than five percent of the amount appropriated.
(2) Ten percent of the money shall be appropriated to the Vernon Parish Council on Aging, to be distributed equally to each of the senior citizen centers in the parish. Administrative costs or debt service associated with this Subsection shall be no more than five percent of the amount appropriated. The use of any funds distributed under this Paragraph of this Subsection are subject to the approval of a majority of the legislators who represent Vernon Parish.
(3) Twelve percent for the operation and maintenance of the arena facility in Vernon Parish.
(4) And the following appropriations shall be made to the following towns and villages in Vernon Parish in the following manner to be used solely for salary and benefits of law enforcement officers and tourism-related activity:
(a) Fifteen percent to the Town of New Llano.
(b) Seven percent to the Village of Simpson.
(c) Seven percent to the Town of Rosepine.
(d) Seven percent to the Town of Hornbeck.
(e) Seven percent to the Village of Anacoco.
(5) The remaining fifteen percent of the money shall be transferred to the Vernon Parish Legislative Improvement Fund No. 2 as provided by La. Rev. Stat. 47:302.54.
Acts 1992, No. 957, §1, eff. July 1, 1992; Acts 1992, No. 983, §1, eff. for the taxable periods on or after July 1, 1993; Acts 1995, No. 854, §1, eff. July 1, 1995; Acts 2003, No. 799, §1, eff. July 1, 2003; Acts 2004, No. 715, §1, eff. July 1, 2004; Acts 2008, No. 864, §1, eff. July 9, 2008.
NOTE: See La. Rev. Stat. 47:332.3.