SLS 12RS-861 ENGROSSED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012
SENATE BILL NO. 549
BY SENATOR MILLS
FUNDS/FUNDING. Provides for appropriations from the St. Martin Parish Enterprise Fund
to be made to the St. Martin Parish government for tourism and economic development.
(gov sig)
AN ACT1
To amend and reenact R.S. 47:302.27, relative to disposition of certain collections in St.2
Martin Parish; to provide for appropriations from the St. Martin Parish Enterprise3
Fund to the St. Martin Parish government; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 47:302.27 is hereby amended and reenacted to read as follows: 6
ยง302.27. Disposition of certain collections in St. Martin Parish7
A. The avails of the tax imposed by R.S. 47:302, 321, and 331 from the sales8
of services as defined in R.S. 47:301(14)(a) in St. Martin Parish under the provisions9
of R.S. 47:302(C), 321(C), 322, 331(C), and 332, as applicable, shall be credited to10
the Bond Security and Redemption Fund, and after a sufficient amount is allocated11
from that fund to pay all the obligations secured by the full faith and credit of the12
state which become due and payable within any fiscal year, the treasurer shall pay13
the remainder of such funds into a special fund which is hereby created in the state14
treasury and designated as the "St. Martin Parish Enterprise Fund".15
B. The monies in the St. Martin Parish Enterprise Fund shall be subject to16
an annual appropriation by the legislature. The monies in the fund shall be used by17 SB NO. 549
SLS 12RS-861 ENGROSSED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
the St. Martin Parish Tourist Commission government for tourism and economic1
development purposes. All unexpended and unencumbered monies in the fund shall2
remain in the fund. The monies in the fund shall be invested by the treasurer in the3
same manner as the monies in the state general fund, and all interest earned shall be4
deposited into the state general fund.5
Section 2 This Act shall become effective upon signature by the governor or, if not6
signed by the governor, upon expiration of the time for bills to become law without signature7
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If8
vetoed by the governor and subsequently approved by the legislature, this Act shall become9
effective on the day following such approval.10
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Danielle Doiron.
DIGEST
Mills (SB 549)
Present law creates the St. Martin Parish Enterprise Fund in the state treasury. Further
provides that the sales tax imposed in St. Martin Parish shall be credited to the Bond
Security and Redemption Fund, and after all indebtedness has been paid the remainder of
funds shall be allocated to the St. Martin Parish Enterprise Fund.
Present law provides the monies in the St. Martin Parish Enterprise Fund shall be subject to
annual appropriation by the legislature, and shall be used by the St. Martin Parish Tourist
Commission for tourism purposes.
Proposed law provides the annual appropriation to the St. Martin Parish Enterprise Fund
shall be used by the St. Martin Parish government for tourism and economic development
purposes.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 47:302.27)