A. There is hereby established within the state treasury a fund to be known as the "Louisiana Economic Development Fund". All monies received by the corporation shall be deposited to the account of the Louisiana Economic Development Fund. Monies received by the corporation pursuant to R.S. 47:318(A) shall be used solely for Louisiana Economic Development - Debt Service and State Commitments. B. All monies received or appropriated to such fund shall remain in the fund and shall not be returned to the state general fund at the end of any fiscal year. C.(1) The monies in the Louisiana Economic Development Fund shall be invested by the treasurer in the same manner as monies in the state general fund. (2) All interest earned on monies from the fund so invested by the state treasurer shall be deposited in the Louisiana Economic Development Fund.
‹ Prev All Louisiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.