Terms Used In Louisiana Revised Statutes 47:302.5
- Fiscal year: means an accounting period of twelve months ending on the last day of any month other than December. See Louisiana Revised Statutes 47:98
A. The avails of the tax imposed by this Chapter from the sale of services as defined in R.S. 47:301(14)(a) in Vernon Parish under the provisions of this Chapter 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 funds into a special fund which is hereby created in the state treasury and designated as the “Vernon Parish Legislative Community Improvement Fund”.
B. The monies in the Vernon Parish Legislative Community Improvement Fund shall be subject to annual appropriations by the legislature. The monies in the fund shall be available exclusively for the purposes provided for in Subsections C and E of this Section. 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, and all interest earned shall be deposited into the state general fund.
C. For purposes of this Section, “improvements” shall include acquisition of land and acquisition and construction of buildings for use by the Vernon Convention Facility; other capital improvements in Vernon Parish; and any other costs of improvements, operation, or maintenance in Vernon Parish for recreational facilities, museums, fishing ramps, and parks.
D. The Vernon Parish Legislative Community Improvement Board shall consist of those state senators and representatives representing all or a part of Vernon Parish.
E. Beginning July 1, 2004, money paid into the Vernon Parish Legislative Community Improvement Fund shall be appropriated, distributed, and used as follows:
(1) Twenty percent of the money shall be appropriated to the Vernon Parish Tourist and Recreation Commission to be administered and distributed by the commission to be used for improvements in Vernon Parish as that term is defined in Subsection C of this Section. Administrative costs or debt service associated with this Subsection shall be no more than five percent of the amount appropriated.
(2) Ten percent of the money shall be appropriated to the Vernon Parish Council on Aging, to be distributed equally to each of the senior citizen centers in the parish. Administrative costs or debt service associated with this Subsection shall be no more than five percent of the amount appropriated. The use of any funds distributed under this Paragraph of this Subsection are subject to the approval of a majority of the legislators who represent Vernon Parish.
(3) Twelve percent for the operation and maintenance of the arena facility in Vernon Parish.
(4) And the following appropriations shall be made to the following towns and villages in Vernon Parish in the following manner to be used solely for salary and benefits of law enforcement officers and tourism-related activity:
(a) Fifteen percent to the Town of New Llano.
(b) Seven percent to the Village of Simpson.
(c) Seven percent to the Town of Rosepine.
(d) Seven percent to the Town of Hornbeck.
(e) Seven percent to the Village of Anacoco.
(5) The remaining fifteen percent of the money shall be transferred to the Vernon Parish Legislative Improvement Fund No. 2 as provided by R.S. 47:302.54.
Acts 1992, No. 957, §1, eff. July 1, 1992; Acts 1992, No. 983, §1, eff. for the taxable periods on or after July 1, 1993; Acts 1995, No. 854, §1, eff. July 1, 1995; Acts 2003, No. 799, §1, eff. July 1, 2003; Acts 2004, No. 715, §1, eff. July 1, 2004; Acts 2008, No. 864, §1, eff. July 9, 2008.
NOTE: See R.S. 47:332.3.