Louisiana Constitution Art. 7 Sec. 10.9 – Louisiana Fund
Terms Used In Louisiana Constitution Art. 7 Sec. 10.9
- 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
- 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.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Section 10.9. Louisiana Fund
(A) The Louisiana Fund is established in the state treasury as a special fund. After allocation of money to the Bond Security and Redemption Fund as provided in Article VII, Section 9(B) of this constitution, the treasurer shall deposit in and credit to the Louisiana Fund all remaining monies received as a result of the Settlement Agreement after deposits into the Millennium Trust as provided in Section 10.8 of this Article, and all interest income on the investment of monies in the Louisiana Fund. Monies in the Louisiana Fund shall be invested by the treasurer in the same manner as the state general fund.
(B) Appropriations from the Louisiana Fund shall be restricted to the following purposes:
(1) Initiatives to ensure the optimal development of Louisiana’s children through enhancement of educational opportunities and the provision of appropriate health care, which shall include but not be limited to:
(a) Early childhood intervention programs targeting children from birth through age four, including programs to reduce infant mortality.
(b) Support of state programs for children’s health insurance.
(c) School-based health clinics, rural health clinics, and primary care clinics.
(2) Initiatives to benefit the citizens of Louisiana with respect to health care through pursuit of innovation in advanced health care sciences, provision of comprehensive chronic disease management services, and expenditures for capital improvements for state health care facilities.
(3) Provision of direct health care services for tobacco-related illnesses.
(4) Initiatives to diminish tobacco-related injury and death to Louisiana’s citizens through educational efforts, cessation assistance services, promotion of a tobacco-free lifestyle, and enforcement of the requirements of the Settlement Agreement by the attorney general.
(C) Each appropriation from the Louisiana Fund shall include performance expectations to ensure accountability in the expenditure of such monies. Any unexpended and unencumbered monies in each fund at the end of a fiscal year shall remain in the respective fund.
Added by Acts 1999, No. 1392, §1, approved Oct. 23, 1999, eff. July 1, 2000.