RS 47:9107: Lottery Sports Wagering Fund

A. There is hereby created in the state treasury a special fund designated as the "Lottery Sports Wagering Fund", hereafter referred to as the "fund". After allocation of money to the Bond Security and Redemption Fund as provided in Article VII, Section 9(B) of the Constitution of Louisiana, the treasurer shall deposit in and credit to the fund all corporation net revenue as determined by R.S. 47:9106. Interest earned on investment of monies in the fund shall be deposited in and credited to the fund. Unexpended and unencumbered monies in the fund shall remain in the fund. Monies in the fund shall be appropriated, administered, and used solely as provided in this Section.

B. The monies in the fund shall be withdrawn only pursuant to appropriation by the legislature and shall be used solely for the expenses provided pursuant to R.S. 47:9106 and for the minimum foundation program.