Louisiana Revised Statutes 40:16.4 – A. There is hereby created, as a special fund in the state treasury, the Louisiana Department of Health’s Facility Support Fund Number 2, hereinafter referred to as the “fund”.
Terms Used In Louisiana Revised Statutes 40:16.4
- Appraisal: A determination of property value.
- 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 fund in the state treasury, the Louisiana Department of Health’s Facility Support Fund Number 2, hereinafter referred to as the “fund”.
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 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 into the fund equal to the amount collected by the state from the proceeds of the sale or transfer of certain lands as provided in Section 1 of Act No. 272 of the 2019 Regular Session of the Legislature, less the amount of the sale proceeds to be deducted by the state land office to offset its appraisal, survey, and other closing costs occasioned by the transactions.
(2) Monies appropriated from the fund 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 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 fund shall be used solely for the planning, design, permits, improvements, repairs, equipment, restoration, renovation, or construction of the Central Louisiana State Hospital.
Acts 2019, No. 272, §8, eff. June 11, 2019.