SUBPART Y. POLITICAL SUBDIVISION FEDERAL GRANT ASSISTANCE FUND

§100.201. Political Subdivision Federal Grant Assistance Fund

            A. There is hereby created in the state treasury, as a special fund, the Political Subdivision Federal Grant Assistance Fund, hereafter referred to in this Section as the "fund". After allocation of money to the Bond Security and Redemption Fund as provided in Article VII, Section 9(B) of the Constitution of Louisiana, the treasurer shall deposit in and credit to the fund all monies appropriated, transferred, or donated for the fund. Monies in the fund shall be invested in the same manner as state general fund monies and interest earned on investment of monies in the fund shall be credited to the fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.

            B. Monies out of the fund shall be appropriated to the division of administration and the office of rural development established within the office of the governor.

            C. Monies in the fund shall be used for the administration of a program to assist political subdivisions with competitive federal grant opportunities made pursuant to the Infrastructure Investment and Jobs Act, P.L. 117-58.

            D. Any program guidelines shall be subject to approval by the Joint Legislative Committee on the Budget.

            Acts 2022, No. 497, §3, eff. June 16, 2022; Acts 2023, No. 410, §4, eff. June 15, 2023.