SLS 12RS-1455 ENGROSSED Page 1 of 2 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. 646 BY SENATORS THOMPSON, ALLAIN, GALLOT, LONG AND RISER AGRICULTURE/FOREST DEPT. Provides relative to Boll Weevil Eradication assessments. (7/1/12) AN ACT1 To amend and reenact R.S. 3:1615(A)(1) and (4), relative to Boll Weevil Eradication2 assessments; to provide for the transfer of assessments to the Louisiana Agricultural3 Finance Authority; and to provide for related matters.4 Be it enacted by the Legislature of Louisiana:5 Section 1. R.S. 3:1615(A)(1) and (4) are hereby amended and reenacted to read as6 follows: 7 ยง1615. Boll Weevil Eradication Fund; disposition of funds8 A. All assessments, fees, penalties, and other funds received under the9 provisions of this Part shall be disposed of in accordance with the following10 provisions:11 (1) All assessments, fees, penalties, and all other funds received by the12 commission under the provisions of this Part, subject to the exceptions contained in13 Article VII, Section 9 of the Constitution of Louisiana, shall be deposited14 immediately upon receipt into the state treasury and shall be credited to the Bond15 Security and Redemption Fund.16 * * *17 SB NO. 646 SLS 12RS-1455 ENGROSSED Page 2 of 2 Coding: Words which are struck through are deletions from existing law; words in boldface type and underscored are additions. (4) All unexpended and unencumbered monies received from assessments in1 the fund at the end of each fiscal year shall be transferred directly to the Louisiana2 Agricultural Finance Authority to provide for the expenses of the program3 established by this Part.4 * * *5 Section 2. This Act shall become effective on July 1, 2012. 6 The original instrument and the following digest, which constitutes no part of the legislative instrument, were prepared by Curry Johnson. DIGEST Thompson (SB 646) Present law (R.S. 3:1613) provides for a voluntary assessment on cotton producers to offset the cost of boll weevil suppression or eradication programs, including but not limited to all costs of any regulatory and enforcement activities of the department. Present law (R.S. 3:1615) creates the Boll Weevil Eradication Fund and provides for the disposition of all assessments, fees, penalties, and other funds. Present law requires that all unexpended and unencumbered monies received from assessments in the fund at the end of each fiscal year be transferred to the Louisiana Agricultural Finance Authority to provide for the expenses of the program. Proposed law changes present law to require that all monies received from assessments be transferred directly to the Louisiana Agricultural Finance Authority to provide for the expenses of the program. Effective July 1, 2012. (Amends R.S. 3:1615(A)(1) and (4))