Louisiana Revised Statutes 24:586 – A. There is hereby created in the state treasury, as a special fund, the Louisiana Transparency Fund, referred to in this Section as the “fund”.
Terms Used In Louisiana Revised Statutes 24:586
- 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 created in the state treasury, as a special fund, the Louisiana Transparency Fund, referred to in this Section as the “fund”.
B. The state treasurer is hereby authorized and directed to transfer three million five hundred thousand dollars from the state general fund to the fund on July first of each fiscal year beginning July 1, 2024. The legislature may appropriate, allocate, or transfer additional monies to the fund if it deems necessary to accomplish the purposes of the fund.
C. Monies in the fund shall be invested by the treasurer in the same manner as monies in the state general fund, and any interest earned on the investment of monies in the fund shall be credited to the fund. All unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.
D. Monies in the fund shall be available for appropriation to and use by the Legislative Budgetary Control Council, referred to in this Section as the “council”. Such appropriations shall be used by the council solely to fund the development and maintenance of the Louisiana Transparency Portal; data analytics, including staff, technology, and contracts; and for supporting all other operations and activities consistent with this Part.
Acts 2023, No. 446, §2, eff. June 28, 2023.