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Code · Louisiana · Title 39 — Public Finance

RS 39:100.255

322 words·~1 min read·/la/title-39/39-1350

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RS 39:100.255
§100.255. Louisiana Economic Development Initiatives Fund
A. There is hereby established in the state treasury, as a special fund, the Louisiana Economic Development Initiatives Fund, hereinafter referred to in this Section as the "fund".
B. After allocation of money to the Bond Security and Redemption Fund as provided in Article VII, Section 9(B) of the Constitution of Louisiana, the treasurer shall deposit into the fund any monies transferred or appropriated by the legislature. The treasurer shall also deposit into the fund any grants, donations, gifts, or other monies which may become available.
C. All unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund. The monies in the fund shall be invested by the state treasurer in the same manner as monies in the state general fund. Interest earned on the investment of monies in the fund shall be credited to the fund.
D. The monies in the fund shall be utilized for the following:
(1)The state treasurer shall deposit the first one hundred fifty million dollars of monies received into the fund into the Site Investment and Infrastructure Improvement Fund.
(2)Of the remaining monies in the fund, the treasurer shall deposit sixty-five million seven hundred twenty-four thousand one hundred twelve dollars of monies received into the fund into the Rapid Response Fund.
(3)Of the remaining monies in the fund, the treasurer shall deposit five million dollars of monies received into the fund into the Marketing Fund.
(4)Of the remaining monies in the fund, the treasurer shall deposit ten million dollars of monies received into the fund into the Major Events Incentive Fund.
(5)Any remaining monies in the fund shall be used solely for training, marketing initiatives, commitments made by Louisiana Economic Development, and various capital initiatives that will have a positive impact on the state's economy.
Acts 2025, No. 365, §3, eff. June 20, 2025.
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