2014 Louisiana Laws
Revised Statutes
TITLE 39 - Public Finance
RS 39:100.61 - New Opportunities Waiver Fund

SUBPART O. NEW OPPORTUNITIES WAIVER FUND

§100.61. New Opportunities Waiver Fund

A. There is hereby created in the state treasury, as a special fund, the New Opportunities Waiver Fund, hereinafter referred to as the "fund".

B.(1) The source of monies in the fund shall be as follows:

(a) In any fiscal year, the state treasurer is directed to deposit twelve percent of all recurring state general fund revenue, not to exceed fifty million dollars in any fiscal year, as recognized by the Revenue Estimating Conference in excess of the Official Forecast at the beginning of the current fiscal year into the New Opportunities Waiver Fund, and monies in the fund from this Subparagraph shall be used for appropriation in the ensuing fiscal year.

(b) Monies designated for the fund and received by the state treasurer from donations, gifts, grants, appropriations, or other revenue.

(2) Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on investment of monies in the fund shall be credited to this fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.

C. Subject to an appropriation by the legislature, monies in the New Opportunities Waiver Fund shall be used solely to fund the New Opportunities Waiver program administered by the Department of Health and Hospitals. Such funding shall be used for the purpose of adding additional waiver slots and shall not be used to supplant appropriations from the general fund for the New Opportunities Waiver program. Nothing contained in this Subpart shall prohibit the legislature from appropriating additional monies for the New Opportunities Waiver slot program.

Acts 2007, No. 481, §1, eff. July 1, 2007; Acts 2012, No. 508, §1, eff. July 1, 2012.