Louisiana Revised Statutes 23:3043 – Blind Vendors Trust Fund
Terms Used In Louisiana Revised Statutes 23:3043
- Blind Enterprise Program: means the services available to establish business enterprises and other similar programs for persons who are blind as provided in the Randolph-Sheppard Act. See Louisiana Revised Statutes 23:3042
- Blind vendors: means those individuals who are classified under state and federal regulations as legally blind and who are licensed to and have a permit to operate vending facilities on state, federal, or other property. See Louisiana Revised Statutes 23:3042
- Department: means Louisiana Rehabilitation Services. See Louisiana Revised Statutes 23:3042
- 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 the Blind Vendors Trust Fund. See Louisiana Revised Statutes 23:3042
- Randolph-Sheppard Act: means the federal law which enables the Blind Enterprise Program under the authority of 20 U. See Louisiana Revised Statutes 23:3042
A. There is hereby established a special fund in the state treasury to be known as the Blind Vendors Trust Fund which shall consist of monies collected from certain vending stands, vending machines, cafeterias, and other small business concessions located on state, federal, and other property pursuant to the Randolph-Sheppard Act. The fund may receive monies from any source. In addition, the legislature may make annual appropriations to the trust fund for the purposes set forth in this Part.
B. All monies collected under this Part shall be forwarded by the department to the state treasurer upon receipt. After deposit in the Bond Security and Redemption Fund as required by La. Const. Art. VII, § 9(B) , an amount equal to all amounts so received shall be credited to the Blind Vendors Trust Fund account under Louisiana Rehabilitation Services.
C. The monies in the fund shall be used solely for programs described herein to provide services for the Blind Enterprise Program established in Louisiana pursuant to the Randolph-Sheppard Act. Funds appropriated to the department each year shall be distributed in accordance with La. Rev. Stat. 23:3045. All unexpended and unencumbered monies remaining in the fund at the close of each fiscal year shall remain in the fund. Monies in the fund shall be invested by the state treasurer in the same manner as monies in the state general fund. All interest earned from the investment of monies in the fund shall be deposited in and remain to the credit of the fund.
D. The administration of the fund shall be exercised by the department in accordance with this Part.
Acts 2010, No. 939, §2, eff. July 1, 2010; Acts 2014, No. 761, §1, eff. June 19, 2014.