SLS 12RS-968 ORIGINAL
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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. 673
BY SENATORS ERDEY, AMEDEE AND WHI TE
FUNDS/FUNDING. To establish the Juban Crossing Economic Development District Fund
as a special fund in the state treasury and to provide for the disposition of certain sales tax
proceeds within Livingston Parish. (7/1/12)
AN ACT1
To enact R.S. 47:302.41.1, relative to the disposition of certain sales tax collections in2
Livingston Parish; to establish the Juban Crossing Economic Development District3
Fund as a special fund in the state treasury; to provide for the deposit of certain4
monies into the fund; to provide for the uses of monies in the fund; to provide for an5
effective date; and to provide for related matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 47:302.41.1 is hereby enacted to read as follows: 8
ยง302.41.1. Disposition of certain collections in the Juban Crossing Economic9
Development District of Livingston Parish10
A. The avails of the tax imposed by R.S. 47:302 and as defined by R.S.11
47:301 in the Juban Economic Development District within the parish of12
Livingston shall be credited to the Bond Security and Redemption Fund, and13
after a sufficient amount is allocated from that fund to pay all the obligations14
secured by the full faith and credit of the state which become due and payable15
within any fiscal year, the treasurer shall pay the remainder of such funds into16
a special fund which is hereby established in the state treasury, and designated17 SB NO. 673
SLS 12RS-968 ORIGINAL
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
as the Juban Crossing Economic Development District Fund, hereinafter1
referred to as the "fund". The Juban Crossing Economic Development District2
shall mean and specifically refers to the special district with boundaries defined3
and created by Livingston Parish Ordinance No. 07-24 pursuant to the4
provisions of Part II of Chapter 27 of Title 33 of the Louisiana Revised Statutes5
of 1950.6
B. The monies in the Juban Crossing Economic Development District7
Fund shall be subject to an annual appropriation by the legislature. All8
unexpended and unencumbered monies in the fund at the end of the fiscal year9
shall remain in the fund. The monies in the fund shall be invested by the state10
treasurer in the same manner as monies in the state general fund, and interest11
earned on the investment of monies shall be credited to the fund.12
C. The monies in the fund shall be used for the Juban Crossing13
Economic Development District's infrastructure including, but not limited to,14
costs of construction, on- and off-site preparation costs, public improvements15
within the economic development district which are essential to the preparation16
for use in accordance with the district's development plans, and any other17
improvements as provided by R.S. 33:9038.36.18
Section 2. This Act shall become effective on July 1, 2012; if vetoed by the governor19
and subsequently approved by the legislature, this Act shall become effective on July 1,20
2012, or on the day following such approval by the legislature, whichever is later.21
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Jay R. Lueckel.
DIGEST
Proposed law provides that the avails of the tax imposed by R.S. 47:302 and as defined by
R.S. 47:301 in the Juban Economic Development District within the parish of Livingston,
a special district created by Livingston Parish Ordinance No. 07-24 pursuant to the
provisions of Part II of Chapter 27 of Title 33 of the Louisiana Revised Statutes of 1950,
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 established in the state treasury,
and designated as the Juban Crossing Economic Development District. SB NO. 673
SLS 12RS-968 ORIGINAL
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Proposed law provides that the monies in the Juban Crossing Economic Development
District Fund shall be subject to an annual appropriation by the legislature and all
unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain
in the fund. Provides for investment of monies in the fund and that interest earnings be
credited to the fund.
Proposed law provides that the monies in the fund shall be used for the Juban Crossing
Economic Development District's infrastructure including, but not limited to, costs of
construction, on- and off-site preparation costs, public improvements within the economic
development district which are essential to the preparation for use in accordance with the
district's development plans, and any other improvements as provided by law for such
projects.
Effective July 1, 2012.
(Adds R.S. 47:302.41.1)