§329.2. North Lafourche Conservation, Levee and Drainage District; ad valorem tax and mineral revenues

A. Because the Lafourche Basin Levee District continues to provide mainline Mississippi River levee protection which is beneficial to Lafourche Parish, the North Lafourche Conservation, Levee and Drainage District and the Lafourche Basin Levee District shall share both the ad valorem property taxes received from such tax levied annually, not to exceed five mills, pursuant to Article VI, Section 39(A) of the Constitution of Louisiana and R.S. 38:404, for levee protection on any lands located in the parish of Lafourche lying north of the northern bank of the Intracoastal Canal and east of the Bayou Lafourche, and the mineral revenues received on any lands within the territorial boundaries of the North Lafourche Conservation, Levee and Drainage District that were previously owned by the Lafourche Basin Levee District in the percentages as follows:

(1) For the tax year 2007, thirty-five percent to the Lafourche Basin Levee District and sixty-five percent to the North Lafourche Conservation, Levee and Drainage District of such levied 2006 ad valorem property taxes received and mineral revenues received by said levee districts.

(2) For the tax year 2008, twenty-five percent to the Lafourche Basin Levee District and seventy-five percent to the North Lafourche Conservation, Levee and Drainage District of such levied 2007 ad valorem property taxes received and mineral revenues received by said levee districts.

(3) For the tax year 2009 and each tax year thereafter, fifteen percent to the Lafourche Basin Levee District and eighty-five percent to the North Lafourche Conservation, Levee and Drainage District of such levied 2008 ad valorem property taxes received, and such levied ad valorem property taxes received each year thereafter, and mineral revenues received by said levee districts.

B. The ad valorem property taxes received annually to be shared as provided for in Subsection A of this Section shall be remitted within thirty days of the receipt thereof. The mineral revenues on the lands to be shared as provided for in Subsection A of this Section shall be remitted on a quarterly basis.

Acts 2006, 1st Ex. Sess., No. 32, §1, eff. Jan. 1, 2007; Acts 2007, No. 134, §1, eff. June 25, 2007.