§100.253. Higher Education Campus Revitalization Fund

            A. There is hereby established in the state treasury, as a special fund, the Higher Education Campus Revitalization Fund, hereinafter referred to in this Section as the "fund".

            B. Any money transferred, donated, or appropriated to the fund by the legislature shall be deposited into the fund after compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana relative to the Bond Security and Redemption Fund.

            C. All unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund. The monies in the fund shall be invested by the state treasurer in the same manner as monies in the state general fund, and interest earned on the investment of monies in the fund shall be credited to the fund.

            D. The monies in the fund shall be utilized for the following:

            (1) In the event that House Bill No. 940 of the 2024 Regular Session of the Legislature is enacted into law, the state treasurer shall deposit the first seventy-five million dollars of monies received into the fund into the College and University Deferred Maintenance and Capital Improvement Fund for the purposes provided in Act No. 751 of the 2024 Regular Session of the Legislature.

            (2) Any remaining monies in the fund shall be used solely for various improvements throughout Louisiana public institutions of higher education.

            Acts 2024, No. 723, §3, eff. June 19, 2024.