§ 48:80 — Louisiana Vertiport Development Fund

Louisiana § 48:80

• Jurisdiction: Louisiana
• Title 48: Roads, Bridges and Ferries

Text

§80. Louisiana Vertiport Development Fund
A. There is hereby created in the state treasury, as a special fund, the Louisiana
Vertiport Development Fund, hereinafter referred to in this Section as the "fund". The fund
shall consist of any monies appropriated by the legislature and any grants, gifts, or donations
received by the state for purposes of this Section. Monies appropriated or transferred to the
fund shall be deposited by the state treasurer after compliance with the provisions of Article
VII, Section 9(B) of the Constitution of Louisiana. Monies in the fund shall be invested by
the treasurer in the same manner as the state general fund monies. Interest earned on monies
in the fund shall be credited to the fund. All unexpended and unencumbered monies and
earnings remaining in the fund at the end of the fiscal year shall remain in the fund.
B. The monies in the fund shall be administered by the Department of Transportation
and Development and shall be used exclusively to fund the statewide development of
vertiports. The Department of Transportation and Development shall develop regulations
and guidelines for the distribution and allocation of any monies appropriated to the
department pursuant to this Section.

Legislative History

Acts 2024, No. 316, §2.