This text of Louisiana § 40:1207.2 (Medical and Allied Health Professional Education Scholarship and Loan Fund) 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.
§1207.2. Medical and Allied Health Professional Education Scholarship and Loan Fund
A. There is hereby created, as a special fund in the state treasury, the Medical and
Allied Health Professional Education Scholarship and Loan Fund, hereinafter sometimes
referred to as "the fund". The Louisiana Department of Health shall deposit into the state
treasury on a quarterly basis at least twenty-five percent of all monies, not to exceed two
hundred thousand dollars in any fiscal year, retained by the Louisiana Department of Health
from local intergovernmental transfers which are transferred for the purpose of making
supplemental payments to physicians.
B.
(1)Notwithstanding any other provision of law, after compliance with the
requirements of Article VII, Section 9(B) of the Constitution of Louis
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§1207.2. Medical and Allied Health Professional Education Scholarship and Loan Fund
A. There is hereby created, as a special fund in the state treasury, the Medical and
Allied Health Professional Education Scholarship and Loan Fund, hereinafter sometimes
referred to as "the fund". The Louisiana Department of Health shall deposit into the state
treasury on a quarterly basis at least twenty-five percent of all monies, not to exceed two
hundred thousand dollars in any fiscal year, retained by the Louisiana Department of Health
from local intergovernmental transfers which are transferred for the purpose of making
supplemental payments to physicians.
B.(1) Notwithstanding any other provision of law, after compliance with the
requirements of Article VII, Section 9(B) of the Constitution of Louisiana relative to the
Bond Security and Redemption Fund, and after a sufficient amount is allocated from that
fund to pay all of the obligations secured by the full faith and credit of the state which
become due and payable within any fiscal year, the treasurer shall deposit into the fund those
monies transferred to the treasurer from the Louisiana Department of Health which were
generated by the Louisiana Department of Health through the use of any Medicaid upper
payment limit financing mechanism created or maintained for physicians.
(2) The monies in this fund shall be used solely for the provision of the Medical and
Allied Health Professional Education and Loan Scholarship Program as provided for by this
Part and only in the amounts appropriated by the legislature. 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, and interest earned on the investment of these monies shall be credited
to the fund following compliance with the requirements of Article VII, Section 9(B) relative
to the Bond Security and Redemption Fund.