§100.52. Water Sector Fund

            A. There is hereby created in the state treasury, as a special fund, the Water Sector Fund, hereinafter referred to in this Section as the "fund".

            B. Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on the investment of monies in the fund shall be deposited in and credited to the fund. All unexpended and unencumbered monies remaining in the fund at the end of each fiscal year shall remain in the fund.

            C. Monies in the fund shall be used to provide grant funding for repairs, improvements, and consolidation of water systems and sewer systems pursuant to the Water Sector Program as provided in R.S. 39:100.56 or any other purpose as provided for in this Section. Except as provided in Subsections D and F of this Section and R.S. 39:100.56(K)(2), expenditure of monies in the fund shall require prior approval of the Water Sector Commission and the Joint Legislative Committee on the Budget.

            D. The Engineering Fee Subfund, hereafter referred to in this Subsection as the "subfund", is hereby created in the state treasury as a subfund in the Water Sector Fund. Monies appropriated or transferred to the subfund shall be deposited by the state treasurer after compliance with the provisions of Article VII, Section 9(B) of the Constitution of Louisiana. Monies in the subfund shall be invested in the same manner as monies in the Water Sector Fund, and any interest earned on the investment of subfund monies shall be credited to the subfund. All unexpended and unencumbered monies in the subfund at the end of the fiscal year shall remain in the subfund. Monies in the subfund shall be used to provide grant funding to certain political subdivisions for engineering fees arising out of application to the Water Sector Program. No monies shall be expended from the subfund without approval of the Water Sector Commission.

            E. The Phase II Subfund is hereby created in the state treasury as a subfund in the Water Sector Fund. Monies appropriated or transferred to the Phase II Subfund shall be deposited by the state treasurer after compliance with the provisions of Article VII, Section 9(B) of the Constitution of Louisiana. Monies in the Phase II Subfund shall be invested in the same manner as monies in the Water Sector Fund, and any interest earned on the investment of Phase II Subfund monies shall be credited to the Phase II Subfund. All unexpended and unencumbered monies in the Phase II Subfund at the end of the fiscal year shall remain in the Phase II Subfund. Any monies deposited into the Phase II Subfund shall be used only to provide grant funding for repairs, improvements, consolidation, and related expenses of community water and sewer systems as provided in R.S. 39:100.56(O).

            F. The Emergency Subfund is hereby created in the state treasury as a subfund in the Water Sector Fund. Monies appropriated or transferred to the Emergency Subfund shall be deposited by the state treasurer after compliance with the provisions of Article VII, Section 9(B) of the Constitution of Louisiana. Monies in the Emergency Subfund shall be invested in the same manner as monies in the Water Sector Fund, and any interest earned on the investment of Emergency Subfund monies shall be credited to the Emergency Subfund. All unexpended and unencumbered monies in the Emergency Subfund at the end of the fiscal year shall remain in the Emergency Subfund. Monies in the Emergency Subfund shall be used only to provide emergency grant funding to address or mitigate an emergency related to a community water system or community sewer system as provided in R.S. 39:100.56(O). No monies shall be expended from the Emergency Subfund without prior approval of the Water Sector Commission. Joint Legislative Committee on the Budget approval is required for approval of emergency grant funding requests in excess of two hundred thousand dollars.

            Acts 2021, No. 410, §1, eff. June 17, 2021; Acts 2022, No. 167, §4, eff. May 30, 2022; Acts 2024, No. 497, §1, eff. June 10, 2024; Acts 2024, No. 723, §3, eff. June 19, 2024.