2006 Louisiana Laws - RS 3:3391.13 — Formosan termite initiative fund

§3391.13.  Formosan Termite Initiative Fund

A.  All assessments, fees, penalties, and other funds received under the provisions of this Part shall be deposited immediately upon receipt into the state treasury.

B.  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 prior to monies being placed in the state general fund, an amount equal to that deposited as required in Subsection A hereof and monies appropriated by the legislature shall be credited to a special fund hereby created in the state treasury to be known as the "Formosan Termite Initiative Fund".  The monies in this fund shall be used solely as provided in Subsection C hereof and only in the amounts appropriated by the legislature.  All unexpended and unencumbered monies in this 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 this fund, again following compliance with the requirement of Article VII, Section 9(B) of the Constitution of Louisiana, relative to the Bond Security and Redemption Fund.

C.  The monies in the Formosan Termite Initiative Fund shall be used for the following purposes:

(1)  To provide for the expenses of the program established by this Part, as determined by the commissioner.

(2)  To fund any and all costs related to the suppression and control of the Formosan termite, utilizing any or all powers granted under this Part.

Acts 1999, No. 486, §1, eff. June 21, 1999.