§ 47:302.42 — Disposition of certain collections in the town of Homer in Claiborne Parish

Louisiana § 47:302.42

• Jurisdiction: Louisiana
• Title 47: Revenue and Taxation

Text

§302.42. Disposition of certain collections in the town of Homer in Claiborne Parish
A. The avails of the tax imposed by this Chapter from the sales of services as defined
by R.S. 47:301.3(1) in the town of Homer in Claiborne Parish under the provisions of R.S.
47:302(C) shall be credited 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
pay the remainder of such funds into a special fund which is hereby created in the state
treasury and designated as the "Town of Homer Economic Development Fund".
B. The monies in the Town of Homer Economic Development Fund shall be subject
to an annual appropriation by the legislature. The monies in the fund shall be utilized
exclusively for economic development in the town of Homer. 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 treasurer in the same manner as the monies in the
state general fund, and all interest earned shall be deposited in the state general fund.

Legislative History

Acts 1997, No. 350, §1, eff. July 1, 1997; Acts 2025, No. 384, §8(B), eff. June 20, 2025.