§332.2.  Disposition of certain collections in East Baton Rouge Parish

A.  Except as provided in R.S. 47:332.48, the avails of the tax imposed by R.S. 47:331 from the sale of services as defined in R.S. 47:301(14)(a) in the parish of East Baton Rouge under the provisions of R.S. 47:331(C) and 332 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 East Baton Rouge Parish Riverside Centroplex Fund.

B.  The monies in the East Baton Rouge Parish Riverside Centroplex Fund shall be subject to an annual appropriation by the legislature. The monies in the fund shall be available for capital improvements at the Riverside Centroplex, the Louisiana Arts and Science Center, Riverfront Promenade, and related projects in the Riverfront Development Plan, all such projects to be in the city of Baton Rouge. All unexpended and unencumbered monies in the fund 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 into the state general fund.

Acts 1991, No. 1027, §1, eff. July 1, 1991; Acts 1997, No. 1072, §2, eff. July 14, 1997; Acts 1999, No. 1324, §1, eff. July 1, 1999.