Terms Used In Louisiana Revised Statutes 47:302.40

  • 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.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Sale: means any transfer of title or possession, or both, exchange, barter, conditional or otherwise, in any manner or by any means whatsoever, of tangible personal property, for a consideration, and includes the fabrication of tangible personal property for consumers who furnish, either directly or indirectly, the materials used in fabrication work, and the furnishing, preparing or serving, for a consideration, of any tangible personal property, consumed on the premises of the person furnishing, preparing or serving such tangible personal property. See Louisiana Revised Statutes 47:301

A.  The avails of the tax imposed by this Chapter from the sale of services as defined in La. Rev. Stat. 47:301(14)(a) in Plaquemines Parish under the provisions of La. Rev. Stat. 47:302(C) shall be credited to the Bond Security and Redemption Fund and, after a sufficient amount is allocated from that fund to pay all 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 the remainder of such monies into a special fund which is hereby created in the state treasury and designated as the “Plaquemines Parish Visitor Enterprise Fund”.

B.  The monies in the Plaquemines Parish Visitor Enterprise Fund shall be appropriated each fiscal year by the legislature solely for the purposes provided for in this Section.  The monies in the fund shall be available to the Plaquemines Parish government exclusively to fund the development of tourism and other economic growth projects within the parish of Plaquemines, including but not limited to planning, development, and capital improvements.  All unexpended and unencumbered monies in the fund shall remain in the fund.  The monies in the fund shall be invested by the treasurer in the same manner as the monies in the state general fund.

C.  For purposes of this Section, “capital improvements” shall mean expenditures for acquiring lands, buildings, equipment, or other permanent properties, or for their construction, preservation, development, or permanent improvement, or for payment of principal, interest, or premium, if any, and other obligations incident to the issuance, security, and payment of bonds or other evidences of indebtedness associated therewith.

Acts 1997, No. 321, §1, eff. July 1, 1997.

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