§1875.  Repayment of loan; additional assessor expense allowance

A.  To further secure the loan of money, all loans made under the provisions of this Act shall be repaid by each assessor from an additional expense allowance as herein provided.

B.  Notwithstanding any other provision of law to the contrary, in order to carry out the constitutional mandate for reappraisal of all property in the state, each assessor shall be allowed an additional expense allowance not to exceed one-third of the amount borrowed, as certified by the commission.

C.  This additional expense allowance shall be granted in each of the fiscal years commencing in the 1978-1979 Fiscal Year and concluding in the 1980-1981 Fiscal Year.  These additional funds shall be paid to the assessor on a pro rata basis and all recipients of taxes, whether parish, school, municipality, levee, drainage, or others, shall contribute their full proportion of the total due in accordance with the amount of taxes to be received by each.  The tax commission shall certify the amount due by each recipient of taxes and shall file a report with the sheriff and ex officio tax collector and the tax collector for each municipality.

D.  All funds collected by the assessor under the provisions of this section shall be used exclusively to repay the outstanding loans guaranteed under this Part.

Added by Acts 1977, No. 571, §1, eff. July 15, 1977; H.C.R. No. 88, 1993 R.S., eff. May 30, 1993; H.C.R. No. 1, 1994 R.S., eff. May 11, 1994.