PART XI-A. STATE HIGHWAY IMPROVEMENT FUND

§196. State Highway Improvement Fund

A. There is hereby created, as a special fund in the state treasury, the State Highway Improvement Fund, hereinafter referred to as the "fund." The source of monies in this fund shall be 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 such amounts as remain after payment of amounts due on bonds and related expenses as provided in the documents pursuant to which the bonds were issued under the provisions of R.S. 48:196.1. Beginning July 1, 2007, and each fiscal year thereafter, after satisfaction of the requirements of the provisions of R.S. 48:196.1 and 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, and the New Orleans Ferry Fund, the treasurer shall deposit into the fund the following amounts:

(1) For Fiscal Year 2007-2008, twenty-five percent of such collections.

(2) For Fiscal Year 2008-2009, seventy-five percent of such collections.

(3) For Fiscal Year 2009-2010 and thereafter, all of the collections.

B. The monies in the fund shall be subject to an annual appropriation by the legislature and only be used 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 for funding projects for any road which is part of the state highway system but not part of the federal system and, thus, is ineligible for federal highway funding assistance. Such projects shall include but not be limited to design, preventive maintenance, rehabilitation, restoration, and improvement of the state-maintained system of roads. In addition, these funds may be used to complete all of the preconstruction activities such as planning, survey, design, engineering, right-of-way acquisition, and utility relocations association with such projects.

Acts 2006, No. 708, §2, eff. July 1, 2006; Acts 2008, 2nd Ex. Sess., No. 11, §2, eff. March 24, 2008; Acts 2011, No. 390, §2, eff. July 1, 2012; Acts 2012, No. 135, §1, eff. July 1, 2012; Acts 2012, No. 865, §3, eff. Jan. 1, 2013; Acts 2013, No. 273, §2, eff. July 1, 2013.