§332.39.  Disposition of certain collections in Terrebonne 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 Terrebonne Parish 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 "Terrebonne Parish Visitor Enterprise Fund".

B.  The monies in the Terrebonne Parish Visitor Enterprise Fund shall be subject to annual appropriation by the legislature.  The monies in the fund shall be available exclusively for use by the Houma Area Convention and Visitors Bureau to fund the development of tourism and other economic growth projects within the parish of Terrebonne.  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 into the state general fund.

Acts 1997, No. 823, §1, eff. July 1, 1997; Acts 1999, No. 225, §2, eff. June 11, 1999.