§302.30.  Disposition of certain collections in Rapides Parish

A.  The avails of the tax imposed by this Chapter for the sale of services as defined in R.S. 47:301(14)(a) in Rapides 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 fifty percent of the remainder of such funds into a special fund which is hereby created in the state treasury and designated as the "Rapides Parish Economic Development Fund", twenty-five percent into a special fund which is hereby created in the state treasury and designated as the "Alexandria/Pineville Area Tourism Fund" and twenty-five percent into a special fund which is hereby created in the state treasury and designated as the "Pineville Economic Development Fund".

B.(1)  The monies in the Rapides Parish Economic Development Fund shall be subject to an annual appropriation of the legislature.  The monies in the fund shall be used for economic development purposes in Rapides Parish by the city of Alexandria.  All unexpended and unencumbered monies remaining 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 treasurer in the same manner as the monies in the state general fund, and all interest earned shall be deposited in the state general fund.

(2)  The monies in the Alexandria/Pineville Area Tourism Fund shall be subject to an annual appropriation of the legislature.  The monies in the fund shall be used for tourism promotion in Rapides Parish by the  Alexandria/Pineville Area Convention and Visitors Bureau.  All unexpended and unencumbered monies remaining 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 treasurer in the same manner as the monies in the state general fund, and all interest earned shall be deposited in the state general fund.

(3)  The monies in the Pineville Economic Development Fund shall be subject to annual appropriation of the legislature.  The monies in the fund shall be used for economic development in the city of Pineville.  All unexpended and unencumbered monies remaining 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 treasurer in the same manner as the monies in the state general fund, and all interest earned shall be deposited in the state general fund.

Acts 1996, 1st Ex. Sess., No. 85, §1, eff. July 1, 1996; Acts 1997, No. 1289, §2, eff. July 1, 1997.