SUBPART H. JEAN BOUDREAUX SETTLEMENT COMPROMISE FUND

§100.11. Jean Boudreaux Settlement Compromise Fund; purpose

            A. There is hereby created in the state treasury, as a special fund, the "Jean Boudreaux Settlement Compromise Fund", hereinafter referred to in this Section as the "fund".

            B. Notwithstanding any provision of law to the contrary, the state treasurer is hereby authorized and directed to transfer $15,000,000 from the state general fund (direct) into the fund.

            C. Monies in the fund shall be invested in the same manner as monies in the state general fund. 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.

            D. Monies in the fund shall be used for payment of amounts due pursuant to a compromise agreement regarding the judgment captioned "Jean Boudreaux and the Victims of the Flood on April 6, 1983 on the Tangipahoa River versus the State of Louisiana, Department of Transportation, et al.", rendered on June 10, 2005, bearing Number 2004 CA 0985, on the docket of the Court of Appeal, First Circuit, state of Louisiana. The monies payable pursuant to this Section shall be paid to the plaintiffs through Hancock Bank, as escrow agent, into escrow account number 1097000229. Payment shall be made as to this judgment only after presentation to the state treasurer of documentation required by the state treasurer. Payments out of the fund shall not be made without prior approval of the compromise agreement by the Joint Legislative Committee on the Budget.

            Acts 2021, No. 114, §20, eff. June 7, 2021.