§ 49:214.40 — Coastal Resources Trust Dedicated Fund Account

Louisiana § 49:214.40

• Jurisdiction: Louisiana
• Title 49: State Administration

Text

§214.40. Coastal Resources Trust Dedicated Fund Account
A.(1) Subject to the exceptions contained in Article VII, Section 9(A) of the
Constitution of Louisiana, all funds collected by the Louisiana coastal resources program
from processing and evaluation of coastal use permit applications and consistency
determinations, from any federal outercontinental shelf revenue sharing program, and from
any other sources, shall be paid into the state treasury and shall be credited to the Bond
Security and Redemption Fund.
(2) Out of the funds remaining in the Bond Security and Redemption Fund after a
sufficient amount is allocated from that fund to pay all obligations secured by the full faith
and credit of the state which become due and payable within any fiscal year, the treasurer
shall, prior to placing such remaining funds in the state general fund, pay into a special
statutorily dedicated fund account, which is hereby created in the state treasury and
designated as the Coastal Resources Trust Dedicated Fund Account, hereafter referred to in
this Section as the "trust account", an amount equal to the total amount of funds paid into the
treasury by the Louisiana coastal resources program.
(3) The monies in the trust account shall be invested by the state treasurer in the
same manner as monies in the state general fund. The monies in the trust account shall be
used solely for the programs and purposes and in the amounts appropriated each year to the
Louisiana coastal resources program by the legislature. Monies deposited into the trust
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.
B. The Louisiana coastal resources program shall keep a set of books showing from
whom every dollar is received and for what purpose and to whom every dollar is paid and
for what purpose. It also shall keep in its file vouchers or receipts for all moneys paid out.
C. Any surplus funds remaining to the credit of the trust account on July 1 of each
year commencing with the Fiscal Year 1983-1984, after all appropriations of the preceding
fiscal year have been paid, and all interest earned on money from the trust account shall
remain to the credit of the trust account for expenditure from year to year solely by the
Louisiana coastal resources program or any uses as provided for in the federal
outercontinental shelf revenue sharing legislation in accordance with appropriation made by
the legislature for the purposes and functions of said program, and no part thereof shall revert
to the state general fund. This provision shall not be construed to prohibit the appropriation
of funds out of the state general fund to the commission.
{{NOTE: SEE ACTS 1989, 2D EX. SESS., NO. 6, §7.}}
{{NOTE: PRIOR R.S. 49:213.21 WAS REPEALED BY ACTS 1989, NO.
662, §8, EFF. JULY 7, 1989. THIS REPEALED SECTION WAS
ERRONEOUSLY REDESIGNATED BY ACTS 1989, 2D EX. SESS., NO.
6, §7 AS R.S. 49:214.40. THE SOURCE OF THIS SECTION IS PRIOR
R.S. 49:213.22.}}

Legislative History

Added by Acts 1983, No. 512, §1; Acts 1992, No. 1075, §1; Acts 2021, No. 114, §15, eff. July 1, 2022.