Louisiana Revised Statutes 47:332.10 – Disposition of certain collections in Orleans Parish
Terms Used In Louisiana Revised Statutes 47:332.10
- 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.
A. The avails of the tax imposed by La. Rev. Stat. 47:331 from the sale of services as defined in La. Rev. Stat. 47:301(14)(a) in Orleans Parish, under the provisions of La. Rev. Stat. 47:331(C) and 332 in each fiscal year 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 “New Orleans Metropolitan Convention and Visitors Bureau Fund”.
B. The monies in the New Orleans Metropolitan Convention and Visitors Bureau Fund shall be appropriated each fiscal year by the legislature. The monies in the fund shall be appropriated to the New Orleans Metropolitan Convention and Visitors Bureau. 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 fund.
Acts 1995, No. 193, §4, eff. July 1, 1995; Acts 2011, 1st Ex. Sess., No. 42, §1.