Terms Used In Louisiana Revised Statutes 51:2315

  • Corporation: means the Louisiana Economic Development Corporation as established in Part II of this Chapter. See Louisiana Revised Statutes 51:2303
  • 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.
  • Fund: means the Louisiana Economic Development Fund. See Louisiana Revised Statutes 51:2332

            A. There is hereby established within the state treasury a fund to be known as the “Louisiana Economic Development Fund”. All monies received by the corporation shall be deposited to the account of the Louisiana Economic Development Fund. Monies received by the corporation pursuant to La. Rev. Stat. 47:318(A) shall be used solely for Louisiana Economic Development – Debt Service and State Commitments.

            B. All monies received or appropriated to such fund shall remain in the fund and shall not be returned to the state general fund at the end of any fiscal year.

            C.(1) The monies in the Louisiana Economic Development Fund shall be invested by the treasurer in the same manner as monies in the state general fund.

            (2) All interest earned on monies from the fund so invested by the state treasurer shall be deposited in the Louisiana Economic Development Fund.

            Acts 1991, No. 34, §1, eff. July 1, 1991; Acts 2003, No. 1107, §1, eff. July 2, 2003; Acts 2012, No. 834, §13, eff. July 1, 2012; Acts 2018, No. 612, §17, eff. July 1, 2020; Acts 2019, No. 404, §§1, 12, eff. July 1, 2020.

  Previous section
Next section  
 Part II Contents