Louisiana Revised Statutes 47:332.3 – Disposition of certain collections in Vernon Parish
Terms Used In Louisiana Revised Statutes 47:332.3
- 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.
The avails of the tax imposed by La. Rev. Stat. 47:331 from the sales of services as defined in La. Rev. Stat. 47:301(14)(a) in the parish of Vernon under the provisions of La. Rev. Stat. 47:331(C) and 332, as applicable, 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 the “Vernon Parish Legislative Community Improvement Fund” as provided in La. Rev. Stat. 47:302.5 and the distribution and use of such money shall be subject to the provisions of that Section.
Acts 1992, No. 977, §1, eff. July 1, 1992; Acts 1995, No. 854, §1, eff. July 1, 1995; Acts 2003, No. 799, §1, eff. July 1, 2003.