Louisiana Revised Statutes 27:626 – A. There is hereby created in the state treasury a special fund designated as the “Sports Wagering Enforcement Fund”, hereafter referred to as the “fund”. After allocation of money t
Terms Used In Louisiana Revised Statutes 27:626
- 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
A. There is hereby created in the state treasury a special fund designated as the “Sports Wagering Enforcement Fund”, hereafter referred to as the “fund”. After allocation of money to the Bond Security and Redemption Fund as provided in La. Const. Art. VII, § 9(B) , the treasurer shall deposit in and credit to the fund monies from license, application, and permit fees collected pursuant to this Part. Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on investment of monies in the fund shall be deposited in and credited to the fund. Unexpended and unencumbered monies in the fund shall remain in the fund. Monies in the fund shall be appropriated, administered, and used solely as provided in this Section.
B. The monies in the fund shall be withdrawn only pursuant to appropriation by the legislature and shall be used solely for the expenses of the Department of Public Safety and Corrections, the Department of Justice, and the Louisiana Gaming Control Board, including regulatory, administrative, investigative, enforcement, legal, and other expenses as may be necessary to carry out the provisions of this Chapter and the rules of the board.
Acts 2021, No. 80, §3, eff. July 1, 2021.