A.(1) Funds received by the state treasurer pursuant to the provisions of La. Rev. Stat. 47:120.31 and 306.3, or received by the treasurer or the Louisiana Military Family Assistance Board from other public or private donations, gifts, grants, appropriations or other revenue, including revenue derived from the Support Our Troops special prestige license plate as provided for in La. Rev. Stat. 47:463.131, shall be deposited and credited to a special fund hereby created in the state treasury to be known as the Louisiana Military Family Assistance Fund. The money in the fund shall be used solely as provided for in Subsection B of this Section. In addition to funds from any other source, public or private donations, gifts, or grants from individuals, corporations, nonprofit organizations, or other business entities may be made to the fund and accepted by the fund for military family relief and assistance as provided in this Part.

            (2) All unexpended and unencumbered money in the fund at the end of the fiscal year shall remain in the fund. The money in the fund shall be invested by the treasurer in the same manner as money in the general fund and interest earned on the investment of the money shall be credited to the fund. The money in the fund shall not be commingled with other funds, but maintained in a separate account. Balances in the fund shall not lapse at any time, but shall be continuously available for expenditure as provided in this Part.

            B. The money in the fund shall be used solely for the following purposes:

            (1) To pay need-based claims of family members of activated military personnel or honorably discharged military personnel as authorized by the Louisiana Military Family Assistance Board in the manner provided for in La. Rev. Stat. 46:123.

            (2) To provide for state administration of the program provided for in this Part as determined by the board, not to exceed five percent of the total amount deposited into the fund each fiscal year.

            (3) To provide for the third party administrator’s expenses in administration of the program provided for in this Part, which shall not exceed five percent of the total amount deposited into the fund each fiscal year.

            (4) To pay transportation and other related costs of activated military personnel as authorized by the Louisiana Military Family Assistance Board.

            (5) To conduct outreach activities for veterans of the United States Armed Forces.

            Acts 2005, No. 151, §1, eff. June 28, 2005; Acts 2008, No. 676, §1; Acts 2010, No. 256, §1; Acts 2016, No. 402, §1; Acts 2017, No. 3, §1, eff. Jan. 1, 2018; Acts 2022, No. 413, §2, eff. June 15, 2022.