This text of Louisiana § 32:868 (Funding of real-time system to verify motor vehicle insurance; Insurance Verification) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§868. Funding of real-time system to verify motor vehicle insurance; Insurance Verification
System Dedicated Fund Account; creation
A.Of the reinstatement fees assessed in R.S. 32:863(A)(3)(a), an amount of
seventy-five dollars from each reinstatement fee levied for lack of required security up to
thirty days, one hundred fifty dollars from each reinstatement fee levied for lack of required
security between thirty-one days and ninety days, and three hundred dollars from each
reinstatement fee levied for lack of security for in excess of ninety days, and of the
reinstatement fees assessed in R.S. 32:863.1(C)(1)(c) and (I)(3) an amount of fifty dollars
from each first offense and one hundred dollars from each second offense, shall be, after first
having been credited to the Bond Security an
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§868. Funding of real-time system to verify motor vehicle insurance; Insurance Verification
System Dedicated Fund Account; creation
A. Of the reinstatement fees assessed in R.S. 32:863(A)(3)(a), an amount of
seventy-five dollars from each reinstatement fee levied for lack of required security up to
thirty days, one hundred fifty dollars from each reinstatement fee levied for lack of required
security between thirty-one days and ninety days, and three hundred dollars from each
reinstatement fee levied for lack of security for in excess of ninety days, and of the
reinstatement fees assessed in R.S. 32:863.1(C)(1)(c) and (I)(3) an amount of fifty dollars
from each first offense and one hundred dollars from each second offense, shall be, after first
having been credited to the Bond Security and Redemption Fund as required by Article VII,
Section 9(B) of the Constitution of Louisiana, deposited into the Insurance Verification
System Dedicated Fund Account.
B. There is hereby created in the state treasury a special statutorily dedicated fund
account designated as the Insurance Verification System Dedicated Fund Account,
hereinafter referred to as the "account". Monies in the account shall be invested in the same
manner as monies in the state general fund. Interest earned on investment of monies in the
account shall be deposited in and credited to the account. The monies in this account shall
be used solely as provided for in this Section and only in the amounts appropriated by the
legislature. Unexpended and unencumbered monies in the account shall remain in the
account. Monies deposited into the account shall be categorized as fees and self-generated
revenue for the sole purpose of reporting related to the executive budget, supporting
documents, and general appropriation bills and shall be available for annual appropriation
by the legislature. Monies in the account shall be used in amounts appropriated by the
legislature as follows:
(1) For Fiscal Year 2015-2016 and each fiscal year thereafter, monies in the account
shall be used as follows:
(a) First, to fully fund the annual maintenance of the real-time system to verify motor
vehicle insurance authorized by R.S. 32:863.2(F).
(b) Next, the amount needed to fund the increase in the costs of salaries and related
benefits associated with the pay plan adopted by the State Police Commission, not to exceed
forty-two million dollars per year, shall be dedicated to the Department of Public Safety and
Corrections, office of state police.
(c) In the event House Bill No. 562 of the 2014 Regular Session of the Legislature
is enacted into law, the next seven million dollars per year shall be used to fund the housing
of parolees who are detained in sheriffs' jails pending their revocation hearing as provided
in R.S. 15:824(B)(1)(e)(ii).
(d) The next one million dollars per year shall be used to provide additional funding
to district attorneys and assistant district attorneys, specifically to fund additional assistant
district attorneys beginning in 2015.
(e) The remainder of monies in the account shall be used for public safety and law
enforcement purposes.
(2) Funds from the account shall not be used to pay any costs associated with the
implementation of a system for the issuance of REAL ID compliant drivers' licenses and
special identification cards.
NOTE: HB No. 562 of the 2014 R.S. was enacted as Act 652 of the 2014 R.S.