2023 Louisiana Laws › Revised Statutes › Title 47 - Revenue and Taxation › §47:302.2. Disposition of certain collections in the city of Shreveport

RS 47:302.2 - Disposition of certain collections in the city of Shreveport
A. The avails of the tax imposed by this Chapter from the sale of services as defined in R.S. 47:301(14)(a) in the city of Shreveport under the provisions of this Chapter 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 created in the state treasury and designated as the "Shreveport Riverfront and Convention Center and Independence Stadium Fund".
B. The monies in the Shreveport Riverfront and Convention Center and Independence Stadium Fund shall be subject to annual appropriation by the legislature. Except as provided in Subsections D and E of this Section, the monies in the fund shall be available exclusively for the purposes provided in Subsection C of this Section. All unexpended and unencumbered monies in the fund shall remain in the fund. The monies in the fund shall be invested by the treasurer in the same manner as the monies in the state general fund, and all interest earned shall be deposited into the state general fund.
C. Subject to an annual appropriation by the legislature, monies in the fund shall be used as follows:
(1) For allocation from all monies in the fund in the following amounts:
(a) Three percent to the Theater of the Performing Arts of Shreveport.
(b) One and one-half percent to be divided equally with fifty percent to Pamoja Art Society and fifty percent to Rho Omega and Friends, Inc., and one and one-half percent for the Shreveport Bossier African American Chamber of Commerce.
(c) Two and two-thirds percent for Sci-Port Discovery Center.
(d) One and one-third percent deposited into a special account in the fund for the expenditure and exclusive use of the Louisiana State Exhibit Museum in Shreveport. All unexpended and unencumbered monies in this special account at the close of the fiscal year shall remain in the account.
(e) Three percent for the following:
(i) One percent for the New Arts Cultural Society, Inc.
(ii) One percent for Pamoja Art Society.
(iii) One percent for the Sci-Port Discovery Center for outreach activities to underserved populations.
(f) The monies allocated to the entities in Subparagraph (c) of this Paragraph shall be used to pay for admission costs for Caddo Parish school system students who meet the definition of "At-Risk Children" as defined by the State Board of Elementary and Secondary Education. The monies allocated to the Louisiana State Exhibit Museum in Shreveport shall be deposited in the general operating budget of that entity.
(g)(i) The Redbud Festival in Vivian, five thousand dollars.
(ii) The Sunflower Festival in Gilliam, five thousand dollars.
(iii) The Poke Salad Festival in Shreveport, five thousand dollars.
(iv) The Oil City Gusher Days in Oil City, five thousand dollars.
(2) All other monies remaining in the fund shall be used for riverfront and convention center development in the city of Shreveport and for renovation, expansion, or maintenance of Independence Stadium and related facilities in Shreveport, including but not limited to capital improvements with respect thereto. Bonds may be issued for purposes authorized in this Section payable from a pledge and dedication of monies to be used for such purposes as provided in this Section. For the purposes of this Section, "capital improvements" shall mean expenditures for acquiring lands, buildings, equipment or other permanent properties, or for their construction, preservation, development, or permanent improvement, or for payment of principal, interest, or premium, if any, and other obligations incident to the issuance, security, and payment of bonds or other evidences of indebtedness associated therewith.
D. Notwithstanding any other provision of this Section to the contrary, for the 2020-2021 Fiscal Year monies in the fund in the amount of two hundred thousand dollars may be made available for the LSU Health Sciences Center Shreveport provided, however, that any distributions of monies to the LSU Health Sciences Center Shreveport shall occur in equal quarterly amounts after the distributions to entities which have pledged or dedicated such monies into bonds have been made each quarter.
E. Notwithstanding any other provision of this Section to the contrary, for the 2013-2014 Fiscal Year, the amount of seventy-five thousand dollars shall be allocated to the Secretary of State for the restoration of the Shreveport Water Works Museum.
Acts 1992, No. 957, §1, eff. July 1, 1992; Acts 1999, No. 1071, §1, eff. July 1, 1999; Acts 2001, No. 458, §1, eff. June 21, 2001; Acts 2005, No. 476, §1, eff. July 1, 2005; Acts 2011, No. 378, §1, eff. July 1, 2011; Acts 2012, No. 597, §3, eff. July 1, 2012; Acts 2013, No. 420, §6, eff. July 1, 2013; Acts 2014, No. 646, §4, eff. July 1, 2014; Acts 2016, No. 601, §3, eff. June 17, 2016; Acts 2020 1st Ex. Sess., No. 10, §8, eff. July 1, 2020.
NOTE: See Acts 1992, No. 957, §2 as amended by Acts 1999, No. 1071, §§2 and 3 and R.S. 47:332.6.