Louisiana Revised Statutes 32:429.2 – A. There is hereby created, as a special statutorily dedicated fund account in the state treasury, the Office of Motor Vehicles Customer Service and Technology Dedicated Fund Account
Terms Used In Louisiana Revised Statutes 32:429.2
- 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, as a special statutorily dedicated fund account in the state treasury, the Office of Motor Vehicles Customer Service and Technology Dedicated Fund Account, hereafter referred to in this Section as the “account”.
B. 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 that fund to pay all of the obligations secured by the full faith and credit of the state which become due and payable within any fiscal year, the treasurer shall pay an amount equal to the monies received by the state treasury pursuant to the provisions of La. Rev. Stat. 32:412.1(C), 707.2(C)(4), and 728(10) into the account. The monies in the account shall be used solely as provided in Subsection C of this Section and only in the amounts appropriated by the legislature. All unexpended and unencumbered monies in the account at the end of the fiscal year shall remain in the account. The monies in the account shall be invested by the state treasurer in the same manner as monies in the state general fund and shall be deposited into the state general fund. Monies deposited into the account shall be categorized as fees and self-generated revenue for the sole purpose of reporting related to the executive budget, supporting documents, and general appropriation bills and shall be available for annual appropriation by the legislature.
C. Subject to an annual appropriation by the legislature, the monies in the account shall be used solely for the following:
(1) For the expenses of the office of motor vehicles for the initiation and implementation of customer service programs and for the acquisition and implementation of updated and new technology.
(2) All funds remaining shall be utilized for criminal compliance and traffic enforcement by public safety services, but only after compliance with Paragraph (1) of this Subsection.
Acts 2000, 1st Ex. Sess., No. 1, §1, eff. April 10, 2000; Acts 2011, No. 288, §1; Acts 2021, No. 114, §7, eff. July 1, 2022.