§ 51:2364 — Louisiana Economic Development Innovation Fund

§2364. Louisiana Economic Development Innovation Fund
A.(1) There shall hereby be established within the state treasury a special fund, the
Louisiana Economic Development Innovation Fund, hereinafter referred to as the "fund".
After compliance with the requirements of Article VII, Section 9(B) of the Constitution of
Louisiana relative to the Bond Security and Redemption Fund, all monies received for the
purpose of the fund shall be deposited into the fund.
(2) Monies in the fund shall be used solely for economic development initiatives as
determined appropriate by the secretary, who shall develop guidelines for objectives and
performance-based criteria for fund distribution.
(3) The source of monies in the fund shall be any monies transferred or appropriated
by the legislature, grants, donations, or other monies which may become available.
B. The treasurer shall invest the monies in the fund in the same manner as funds are
invested in the general fund. Interest earned from the investment of monies in the fund shall
be credited back to the fund. All unexpended and unencumbered money remaining in the
fund at the end of the fiscal year shall be retained within the fund.

Legislative History

Acts 2025, No. 432, §2.