Creates the New Orleans Ferry Fund and directs how money must be deposited, invested, carried forward, and used for ferry operations.
§25.2. New Orleans Ferry Fund; ferry operations A. There is hereby created, as a special fund in the state treasury, the New Orleans Ferry Fund, hereinafter referred to as the "fund". Notwithstanding any provision of law to the contrary, beginning July 1, 2019, and each fiscal year thereafter, after compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana, and after making the allocation for state highway fund No. 2 for the Greater New Orleans Expressway Commission, the treasurer shall deposit into the fund, an amount equal to the total of all of the funds derived from the collection of registration and license fees and taxes collected by the state pursuant to R.S. 47:462, and as provided in R.S. 47:481, in the parish of Orleans. B. The monies in the fund shall be subject to an annual appropriation by the legislature and shall be used only as provided in Subsection C of this Section. 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 and credited to the fund. All unexpended or unencumbered monies remaining in the fund at the end of the fiscal year shall remain to the credit of the fund. C. Monies appropriated from the fund shall be used exclusively by the Department of Transportation and Development to fund operations of the Chalmette ferry and to provide ferry service formerly operated by its Crescent City Connection Division. These monies shall be in addition to monies the department shall contribute from its operating budget as provided by law. Acts 2013, No. 273, §2, eff. July 1, 2013; Acts 2019, No. 163, §1, eff. July 1, 2019; Acts 2019, No. 362, §5, eff. June 11, 2019. NOTE: Subsection D, which was not included in the enactment of this provision in Acts 2019, Nos. 163 and 362, provided for the termination of the New Orleans Ferry Fund as enacted by Acts 2013, No. 273, and is no longer effective.