Louisiana Investment Fund for Enhancement

• Currency: Current through the election of November 8, 2022
• Citation: La. Const. art. IX § 10

(A) The Louisiana Investment Fund for Enhancement is established as a special fund in the state treasury. All revenues received by the state from the production of oil and gas within the state shall be deposited in the state treasury and credited to the Bond Security and Redemption Fund in accordance with the provisions of Article VII, Section 9, and shall be remitted to the political subdivisions of the state pursuant to Article VII, Section 4. In each fiscal year out of the funds remaining in the Bond Security and Redemption Fund, after a sufficient amount has been allocated for the payment of obligations secured by the full faith and credit of the state which become due and payable within the fiscal year, the treasurer shall credit an amount equal to the windfall revenues from oil and gas price deregulation to the Louisiana Investment Fund for Enhancement.

(B) As used in this Section, "windfall revenues from oil and gas price deregulation" means those revenues received by the state in a fiscal year which are in excess of the base for that particular fiscal year, as calculated in accordance with this Paragraph. The base for fiscal year 1981-1982 shall be the estimated level of collections for oil, gas, and other severance taxes and from oil and gas production royalties in fiscal year 1980-1981, which for the purposes hereof shall be one billion eighty-five million dollars, calculated as follows: