§332.6.  Disposition of certain collections in the city of Shreveport

A.  The avails of the tax imposed by R.S. 47:302, one-half of the avails of the tax imposed by R.S. 47:321, and the avails of the tax imposed by R.S. 47:331 from the sales of services as defined in R.S. 47:301(14)(a) in the city of Shreveport under the provisions of R.S. 47:302(C), 321(C), 322, 331(C), and 332, as applicable, shall be credited to the Bond Security and Redemption Fund, and after a sufficient amount is allocated from that fund to pay all the obligations secured by the full faith and credit of the state which become due and payable within any fiscal year, the treasurer shall pay the remainder of such funds into a special fund which is hereby created in the state treasury and designated as the "Shreveport Riverfront and Convention Center and Independence Stadium Fund".

B.  The monies in the Shreveport Riverfront and Convention Center and Independence Stadium Fund shall be subject to an annual appropriation by the legislature. The monies in the fund shall be available exclusively for the purposes provided in R.S. 47:302.2(C) and (D). However, forty-seven thousand dollars of the monies deposited in the fund shall be allocated annually to Pamoja Art Society for African-American cultural activities in Shreveport, fifty thousand dollars of the monies deposited into the fund shall be allocated annually to The Shreveport Multicultural Center, Inc., and fifteen thousand dollars of the monies deposited in the fund shall be allocated annually to the Rho Omega and Friends, Inc., for the Let the Good Times Roll Festival.  All unexpended and unencumbered monies in the fund shall remain in the fund. The monies in the fund shall be invested by the treasurer in the same manner as the monies in the state general fund, and all interest earned shall be deposited in the state general fund.

Acts 1992, No. 977, §1, eff. July 1, 1992; Acts 1996, 1st Ex. Sess., No. 85, §1, eff. July 1, 1996; Acts 1997, No. 367, §1, eff. July 1, 1997; Acts 1999, No. 1071, §1, eff. July 1, 1999; Acts 2005, No. 476, §1, eff. July 1, 2005; Acts 2011, No. 378, §1, eff. July 1, 2011; Acts 2012, No. 597, §3, eff. July 1, 2012; Acts 2013, No. 420, §6, eff. July 1, 2013; Acts 2014, No. 646, §4, eff. July 1, 2014.

NOTE:  See R.S. 47:302.2.