RS 48:80: Louisiana Vertiport Development Fund

A. There is hereby created in the state treasury, as a special fund, the Louisiana Vertiport Development Fund, hereinafter referred to in this Section as the "fund". The fund shall consist of any monies appropriated by the legislature and any grants, gifts, or donations received by the state for purposes of this Section. Monies appropriated or transferred to the fund shall be deposited by the state treasurer after compliance with the provisions of Article VII, Section 9(B) of the Constitution of Louisiana. Monies in the fund shall be invested by the treasurer in the same manner as the state general fund monies. Interest earned on monies in the fund shall be credited to the fund. All unexpended and unencumbered monies and earnings remaining in the fund at the end of the fiscal year shall remain in the fund.

B. The monies in the fund shall be administered by the Department of Transportation and Development and shall be used exclusively to fund the statewide development of vertiports. The Department of Transportation and Development shall develop regulations and guidelines for the distribution and allocation of any monies appropriated to the department pursuant to this Section.