Louisiana Revised Statutes 56:1703 – A. There is hereby established in the state treasury a special statutorily dedicated fund account to be known as the “Louisiana State Parks Improvement and Repair Dedicated Fund Acco
Terms Used In Louisiana Revised Statutes 56:1703
- 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
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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 established in the state treasury a special statutorily dedicated fund account to be known as the “Louisiana State Parks Improvement and Repair Dedicated Fund Account”, hereinafter referred to in this Section as the “account”. Monies deposited into the 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 appropriation bills and shall be available for annual appropriation by the legislature.
B. Out of the funds remaining in the Bond Security and Redemption Fund after a sufficient amount is allocated from that fund to pay all obligations secured by the full faith and credit of the state that become due and payable within a fiscal year, the treasurer in each fiscal year shall pay into the account all of the following:
(1) An amount equal to the total amount of fees and other self-generated revenues generated by state parks, except as provided in La. Rev. Stat. 56:1704.
(2) An amount equal to all donations of private monies made to the state of Louisiana or any political subdivision, department, agency or corporation of the state for the conservation, administration, control, management, development, operation, or maintenance of any office of state parks holdings. These monies shall be appropriated only for the conservation, administration, control, management, development, operation, or maintenance of office of state parks holdings.
C. Except as provided in Paragraph (B)(2) of this Section, the monies in the account shall be used solely for the purpose of financing improvements and repairs at state parks in the state and shall be allocated, subject to appropriation by the legislature, as follows:
(1) Except as provided in La. Rev. Stat. 56:1704, fifty percent of the monies in the account shall be allocated to each state park in an amount equal to fifty percent of the amount of fees and other self-generated funds generated by that park.
(2) Fifty percent of the monies in the account shall be allocated for use throughout the state park system on the following priority need basis, as recommended by the assistant secretary of the office of state parks:
(a) First, for protection of life or property on existing park areas.
(b) Second, for general repairs and improvements to existing facilities on existing park areas.
(c) Third, for addition of new facilities on existing park areas.
(d) Fourth, for acquisition of property to expand existing park areas.
(e) Fifth, for maintenance and operations of existing park areas.
D. All unexpended and unencumbered monies in the account at the end of a fiscal year shall remain in the account and be available for appropriation in the next fiscal year in the same manner as allocated herein. Monies in the account shall be invested as provided by law. Interest earned on the investment of monies in the account shall be credited to the state general fund.
Acts 1989, No. 729, §1, eff. July 8, 1989; Acts 1992, No. 121, §1, eff. July 1, 1992; Acts 2010, No. 770, §1; Acts 2013, No. 420, §8, eff. June 21, 2013; Acts 2014, No. 791, §19; Acts 2021, No. 114, §16, eff. July 1, 2022.