2014 Louisiana Laws
Revised Statutes
TITLE 48 - Roads, Bridges and Ferries
RS 48:77 - Transportation Trust Fund; dedication and uses of certain monies for transportation purposes

§77. Transportation Trust Fund; dedication and uses of certain monies for transportation purposes

A. Beginning July 1, 2008, from the avails of the taxes imposed by Chapters 2, 2-A, and 2-B of Subtitle II of Title 47 of the Louisiana Revised Statutes of 1950 from the sale, use, lease or rental, the distribution, the consumption, and the storage for use or consumption of motor vehicles which are taxable pursuant to said Chapters 2, 2-A, and 2-B, and after satisfying the requirements of Article VII, Section 9(B) of the Constitution of Louisiana relative to the Bond Security and Redemption Fund, the treasurer shall deposit the following amounts as provided in Subsection B of this Section:

(1) For Fiscal Year 2008-2009, ten percent of such avails.

(2) For Fiscal Year 2009-2010, twenty percent of such avails.

(3) For Fiscal Year 2010-2011, thirty percent of such avails.

(4) For Fiscal Year 2011-2012, fifty percent of such avails.

(5) For Fiscal Year 2012-2013, seventy-five percent of such avails.

(6) For Fiscal Year 2013-2014, eighty-five percent of such avails.

(7) For Fiscal Year 2014-2015 and thereafter, all of the collections.

B. The avails of the taxes dedicated pursuant to Subsection A of this Section shall be deposited for the purposes specified:

(1) Ninety-three percent to the Transportation Trust Fund to be appropriated and expended as follows:

(a) Not less than thirty percent of the total avails deposited in the Transportation Trust Fund pursuant to Subsection A of this Section shall be dedicated to capacity projects.

(b) Seven percent of the total avails deposited in the Transportation Trust Fund pursuant to Subsection A of this Section shall be used exclusively for port priority projects as provided in Chapter 47 of Title 34 (R.S. 34:3451 through 3463).

(c) The remainder of the total avails deposited in the Transportation Trust Fund pursuant to Subsection A of this Section shall be used exclusively for priority projects.

(2) Seven percent to the Transportation Mobility Fund. Unless otherwise approved by the Louisiana Transportation Authority, the avails deposited in the Transportation Mobility Fund pursuant to Subsection A of this Section shall be used exclusively for final design and construction and shall not be used for studies.

C.(1) Notwithstanding any provision of this Section to the contrary, if a deficit for the current fiscal year is projected due to a decrease in the official forecast of the Revenue Estimating Conference, the treasurer is hereby directed to reduce the deposits required by this Section by an amount equal to the amount of the projected deficit less the amount which is authorized to be appropriated from the Budget Stabilization Fund as provided in Article VII, Section 10.3(C)(2) of the Constitution of Louisiana. Deposits to the fund shall be reduced as provided in this Subsection until such time as the official forecast of the Revenue Estimating Conference equals or exceeds the official forecast in effect prior to the projected deficit, at which time the reduction shall cease.

(2) Any reduction in deposits for any fiscal year made pursuant to this Section shall be made on a pro rata basis for all purposes as provided in Subsection B of this Section.

Acts 2008, 2nd Ex. Sess., No. 11, §2, eff. March 24, 2008; Acts 2014, No. 830, §2, eff. Nov. 4, 2014, if adopted.

NOTE: See Acts 2014, No. 830, §§2 and 3, regarding contingencies.

NOTE: House Bill 628, amending La. Const. Art. VII, Sec. 14(B), became Act 873, authorizing capitalization of a state infrastructure bank, effective pending vote Nov. 14, 2014. House Bill 629, amending La. Const Art. VII, Sections 27 and 10.3, providing for deposit of excess mineral revenues into the Transportation Trust Fund in order to capitalize a state infrastructure bank, failed to become enacted.