§302.17.  Disposition of certain collections in Tangipahoa Parish

A.  The avails of the tax imposed by this Chapter from the sales of services as defined in R.S. 47:301(14)(a) in Tangipahoa Parish under the provisions of R.S. 47:302(C) 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 "Tangipahoa Parish Tourist Commission Fund".

B.  The monies in the Tangipahoa Parish Tourist Commission Fund shall be subject to annual appropriations by the legislature.  The monies in the fund shall be available exclusively for use by the Tangipahoa Parish Tourist Commission.  All unexpended and unencumbered 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 into the state general fund.

Acts 1995, No. 664, §1, eff. July 1, 1995.