Louisiana Revised Statutes 40:1558.3 – Volunteer Firefighters’ Tuition Reimbursement Fund
Terms Used In Louisiana Revised Statutes 40:1558.3
- 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.
A. There is hereby established a special fund in the state treasury to be known as the Volunteer Firefighters’ Tuition Reimbursement Fund, hereinafter referred to as the “fund”, which shall consist of monies appropriated annually by the legislature for the purpose set forth in this Part to the extent that state general funds are available; federal funds; public or private donations, gifts, or grants from individuals, corporations, nonprofit organizations, or other business entities which may be made to the fund; and any other monies that may be provided by law.
B.(1) Notwithstanding any other provision of law to the contrary, after compliance with the requirements of La. Const. Art. VII, § 9(B) relative to the Bond Security and Redemption Fund, and after a sufficient amount is allocated from the Bond Security and Redemption Fund to pay all of the obligations secured by the full faith and credit of the state that become due and payable within any fiscal year, the treasurer shall pay into the Volunteer Firefighters’ Tuition Reimbursement Fund an amount equal to the amount provided for in Subsection A of this Section.
(2) Monies appropriated from the fund shall be used solely as provided by Subsection C of this Section and only in the amounts appropriated by the legislature. All unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund. The monies in the fund shall be invested by the state treasurer in the same manner as monies in the state general fund, and interest earned on the investment of these monies shall be credited to the fund following compliance with the requirements of La. Const. Art. VII, § 9(B) relative to the Bond Security and Redemption Fund.
C. Subject to annual appropriation by the legislature, the monies in the Volunteer Firefighters’ Tuition Reimbursement Fund shall be used solely for providing tuition reimbursement to eligible volunteer firefighters attending a state funded public college, university, or vocational or technical school.
D. Notwithstanding any provision of law to the contrary, no monies from the state general fund (direct) shall be deposited or appropriated to the fund unless and until two-thirds of the elected members of each house of the legislature consent to such deposit or appropriation.
Acts 2013, No. 310, §2.