Louisiana Revised Statutes 47:9107 – A. There is hereby created in the state treasury a special fund designated as the “Lottery Sports Wagering Fund”, hereafter referred to as the “fund”. After allocation of money to th
Terms Used In Louisiana Revised Statutes 47:9107
- 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
- Security: means the protection of information that would provide an unfair advantage to any individual involved in the operation of the lottery, protection and preservation of the integrity of lottery games and operations, as well as measures taken to prevent crimes against the corporation and its retailers. See Louisiana Revised Statutes 47:9002
- Sports wagering: means the acceptance of a wager on a sports event or on a portion of a sports event or on the individual performance or statistics of an athlete or participant in a sports event or a combination of sports events, by any system or method of wagering. See Louisiana Revised Statutes 47:9002
A. There is hereby created in the state treasury a special fund designated as the “Lottery Sports Wagering Fund”, hereafter referred to as the “fund”. After allocation of money to the Bond Security and Redemption Fund as provided in La. Const. Art. VII, § 9(B) , the treasurer shall deposit in and credit to the fund all corporation net revenue as determined by La. Rev. Stat. 47:9106. Interest earned on investment of monies in the fund shall be deposited in and credited to the fund. Unexpended and unencumbered monies in the fund shall remain in the fund. Monies in the fund shall be appropriated, administered, and used solely as provided in this Section.
B. The monies in the fund shall be withdrawn only pursuant to appropriation by the legislature and shall be used solely for the expenses provided pursuant to La. Rev. Stat. 47:9106 and for the minimum foundation program.
Acts 2021, No. 80, §4, eff. July 1, 2021.