2023 Louisiana Laws › Revised Statutes › Title 22 - Insurance › §22:2134. Automobile Theft and Insurance Fraud Prevention Authority Dedicated Fund Account

RS 22:2134 - Automobile Theft and Insurance Fraud Prevention Authority Dedicated Fund Account
A. There is hereby established a special dedicated fund account in the state treasury to be known as the "Automobile Theft and Insurance Fraud Prevention Authority Dedicated Fund Account", hereafter referred to in this Section as the "account", into which the state treasurer shall each fiscal year deposit the revenues received from those sources provided for by this Part and other sources as provided for by law after those revenues have been deposited in the Bond Security and Redemption Fund. Out of the funds remaining in the Bond Security and Redemption Fund after a sufficient amount is allocated from that fund to pay all obligations secured by the full faith and credit of the state that become due and payable within each fiscal year, the treasurer, prior to placing such funds in the state general fund, shall pay into the account an amount equal to the revenue generated from collection from those sources provided for by this Part and other sources as provided for by law. No expenditures shall be made from the account unless first appropriated by the legislature. The monies in the account shall be invested by the state treasurer in the same manner as monies in the state general fund. All interest earned on money from the account and invested by the state treasurer shall be credited to the account. 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.
B. Any monies in the account shall be administered only by the director of the authority, upon a majority vote of the board, in the following order of priority:
(1) To pay the costs of administration of the authority.
(2) To pay the costs of legal counsel.
(3) To achieve the purposes and objectives of this Part, which may include but not be limited to the following:
(a) Providing financial support to state or local law enforcement agencies, including but not limited to the office of attorney general, for motor vehicle theft and insurance fraud prevention, detection and enforcement.
(b) Providing financial support to state or local law enforcement agencies, including but not limited to the office of attorney general, for programs designed to reduce the incidence of motor vehicle theft and insurance fraud.
(c) Providing financial support to state and local prosecutors, including but not limited to the office of attorney general, for programs designed to reduce the incidence of motor vehicle theft and insurance fraud.
(d) Conducting educational and public awareness programs designed to inform the citizens of the state about methods
of preventing motor vehicle theft and combating insurance fraud.
C. All monies in the account shall be used only to enhance fraud prevention efforts as determined by the board.
Acts 2004, No. 711, §1; Redesignated from R.S. 22:3204 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2010, No. 1013, §1, eff. July 1, 2010; Acts 2021, No. 114, §5, eff. July 1, 2022.