Louisiana Revised Statutes 39:100.71 – A. There is hereby created in the state treasury, as a special fund, the ”Blue Tarp Fund”, hereinafter referred to in this Section as the “fund”.
Terms Used In Louisiana Revised Statutes 39:100.71
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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 an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
A. There is hereby created in the state treasury, as a special fund, the ”Blue Tarp Fund”, hereinafter referred to in this Section as the “fund”.
B. Notwithstanding any provision of law to the contrary, the state treasurer is hereby authorized and directed to transfer $500,000 from the Louisiana Mega-Project Development Fund into the Blue Tarp Fund.
C. Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on investment of monies in the fund shall be credited to the fund. 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 appropriated and used for roof repairs for homeowners. The Louisiana Housing Corporation shall develop a plan and promulgate rules for the distribution of funds.
Acts 2021, No. 114, §21, eff. June 7, 2021; Acts 2022, No. 167, §4, eff. May 30, 2022.