§463.224. Special prestige license plate; "Louisiana Equine Promotion and Research Advisory Board"

            A.(1) The secretary of the Department of Public Safety and Corrections shall establish a special prestige motor vehicle license plate to be known as the "Equine Promotion" plate, provided there is a minimum of one thousand applicants for such plate. The plate shall be restricted to use on passenger cars, pickup trucks, recreational vehicles, motorcycles, and vans.

            (2) The Department of Public Safety and Corrections, office of motor vehicles, shall create the special prestige license plate when the applicable statutory provisions are met and the department's electronic vehicle and title registration system is updated to accommodate the creation of new plates.

            B. The secretary shall work in conjunction with the chairman of the Louisiana Equine Promotion and Research Advisory Board to select the color and design of the plate, provided it is in compliance with R.S. 47:463(A)(3). The design shall include the words "Equine Promotion".

            C. The special prestige license plate shall be issued, upon application, to any citizen of Louisiana in the same manner as any other motor vehicle license plate.

            D. The department shall collect an annual royalty fee of twenty-five dollars that shall be disbursed in accordance with Subsection E of this Section. This fee shall be in addition to the standard motor vehicle license tax imposed by Article VII, Section 5 of the Constitution of Louisiana, and a handling fee of three dollars and fifty cents for each plate to be retained by the department to offset a portion of administrative costs.

            E. The annual royalty fee shall be collected by the department and deposited into the Louisiana Equine Promotion and Research Advisory Board Special Prestige License Plate Dedicated Fund Account. The money received from the royalty fees shall be used to distribute grant funds as the Louisiana Equine Promotion and Research Advisory Board so desires.

            F. The secretary shall promulgate and adopt rules and regulations as are necessary to implement the provisions of this Section.

            G. There is hereby created, as a special statutorily dedicated fund account within the state treasury, the Louisiana Equine Promotion and Research Advisory Board Special Prestige License Plate Dedicated Fund Account, hereafter referred to in this Subsection as the "account". Notwithstanding any other provision of law, after compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana relative to the Bond Security and Redemption Fund, and after a sufficient amount is allocated to pay all of 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 an amount equal to the annual royalty fee collected by the department into the account. All of the monies in the account shall be appropriated each year by the legislature to the Louisiana Equine Promotion and Research Advisory Board for application first to pay principal and interest on any debt issued by the Louisiana Equine Promotion and Research Advisory Board and second to pay any operating expenses of the Louisiana Equine Promotion and Research Advisory Board. Monies deposited into the account shall be categorized as fees and self-generated revenue for the sole purpose of reporting related to the executive budget, supporting documents, and general appropriation bills and shall be available for annual appropriation by the legislature.

            Acts 2022, No. 427, §1.