Louisiana Revised Statutes 39:100.124 – Matching Funds Fund; creation
Terms Used In Louisiana Revised Statutes 39:100.124
- 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
- Appropriation: means an authorization by the legislature to a budget unit for a program to expend from public funds a sum of money, for purposes designated, under the procedure prescribed in this Chapter. See Louisiana Revised Statutes 39:2
- 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.
- Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
- Quality: means degree or grade of excellence. See Louisiana Revised Statutes 39:2
A. There is hereby created in the state treasury as a special fund the Matching Funds Fund, hereafter referred to in this Section as the “fund”. Monies appropriated or transferred to the fund shall be deposited by the state treasurer after compliance with the provisions of La. Const. Art. VII, § 9(B) . Monies in the fund shall be invested by the treasurer in the same manner as state general fund monies. Interest earned on monies in the fund shall be credited to the state general fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.
B. Of the amount originally deposited into the fund by Act No. 167 of the 2022 Regular Session of the Legislature, the Department of Environmental Quality is authorized, subject to appropriation, to use an aggregate amount up to ten million twenty thousand three hundred dollars for matching funds for the Clean Water State Revolving Fund established pursuant to La. Rev. Stat. 30:2302.
C. Of the amount originally deposited into the fund by Act No. 167 of the 2022 Regular Session of the Legislature, the Louisiana Department of Health is authorized, subject to appropriation, to use an aggregate amount up to thirteen million, six hundred seventy-eight thousand seven hundred ninety-eight dollars for matching funds for the Drinking Water Revolving Loan Fund established pursuant to La. Rev. Stat. 40:2823.
D. The provisions of this Section shall terminate on December 31, 2026.
Acts 2022, No. 167, §4, eff. May 30, 2022.