Terms Used In Louisiana Revised Statutes 47:318

  • 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
  • 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.
  • Subtitle: means and includes all the Chapters in Subtitle II of this Title 47 and any other Title of the Louisiana Revised Statutes of 1950 except the provisions of Chapter 1 of Subtitle IV of Title 47 of the Louisiana Revised Statutes of 1950 and estate taxes for the assessment, collection, administration, and enforcement of taxes, fees, licenses, penalties, and interest due the state of Louisiana which have been delegated to the Department of Revenue. See Louisiana Revised Statutes 47:1501

            A. All monies collected under this Chapter shall be immediately paid into the state treasury, upon receipt, and first credited to the Bond Security and Redemption Fund as provided in La. Const. Art. VII, § 9(B) ; then an amount equal to four-tenths of one percent of all monies collected under this Chapter, and Chapters 2-A and 2-B of this Subtitle, and La. Rev. Stat. 51:1286 shall be used as provided in this Section. The dedication of revenues provided for in this Subsection shall in no way be interpreted to include any monies collected pursuant to the taxes imposed under La. Rev. Stat. 47:321.1.

            B.(1) There is hereby established in the state treasury a special fund which shall be designated the “Marketing Fund”. Of the amount determined pursuant to Subsection A of this Section, two million dollars annually shall be deposited in and credited to the Marketing Fund. 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 on the investment of such monies shall be deposited in the state general fund. All unencumbered and unexpended monies in the fund at the end of each fiscal year shall remain in the fund.

            (2) Monies in the fund shall be subject to annual appropriation to the Department of Economic Development for the following purposes:

            (a) A minimum of one million dollars annually to be used for marketing education, of which one million dollars shall be used as follows:

            (i) Six hundred seventy-five thousand five hundred sixty-three dollars to Marketing Education Retail Alliance, Inc.

            (ii) Two hundred fifty thousand dollars to the District 2 Enhancement Corporation.

            (iii) Seventy-four thousand four hundred thirty-seven dollars to the Louisiana Council for Economic Education.

            (b) A minimum of one million dollars annually for advertising, marketing, and promotional activities.

            C. Repealed by Acts 2001, No. 7, §2, eff. July 1, 2001.

            D. After satisfying the requirements of Subsection B of this Section, the remaining portion of the amount determined pursuant to Subsection A of this Section shall be deposited in the Louisiana Economic Development Fund created by La. Rev. Stat. 51:2315 dedicated exclusively to Louisiana Economic Development – Debt Service and State Commitments.

            Acts 1991, No. 709, §1, eff. July 1, 1991; Acts 1993, No. 881, §1, eff. July 1, 1993; Acts 1995, No. 1186, §1; Acts 1996, 1st Ex. Sess., No. 32, §1; Acts 1997, No. 1126, §1, eff. July 1, 1997; Acts 1998, 1st Ex. Sess., No. 50, §1, eff. July 1, 1998; Acts 2001, No. 7, §§1 and 2, eff. July 1, 2001; Acts 2005, No. 153, §1; Acts 2006, No. 608, §2, eff. July 1, 2006; Acts 2013, No. 425, §1, eff. July 1, 2013; Acts 2016, 1st Ex. Sess., No. 26, §1, eff. April 1, 2016; Acts 2018, No. 612, §15, eff. July 1, 2020; Acts 2019, No. 404, §§1, 10, eff. July 1, 2020.

            NOTE: See Acts 2016, 1st Ex. Sess., No. 26, §2, regarding applicability.

  Previous section
Next section  
 Chapter 2 Contents