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ARTICLE VII. REVENUE AND FINANCE

Section 10.4. Higher Education Louisiana Partnership Fund; Program

§10.4. Higher Education Louisiana Partnership Fund; Program

Section 10.4.(A) Higher Education Louisiana Partnership Fund. (1) There is hereby established a special fund in the state treasury to be known as the Higher Education Louisiana Partnership Fund, hereinafter referred to as the "fund", consisting of monies appropriated annually by the legislature, grants, gifts, and donations received by the state for the purposes of this Section, and other revenues as may be provided by law; provided that no such monies shall come from the allocations provided in Article VII, Section 4, Paragraphs (D) and (E) of this constitution.

(2) All unexpended and unencumbered monies in the Higher Education Louisiana Partnership Fund at the end of a fiscal year shall remain in such fund and be available for appropriation in the next fiscal year. The monies in the fund shall be invested by the state treasurer in accordance with state law, and interest earned on the investment of these monies shall be credited to the fund, after compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana, relative to the Bond Security and Redemption Fund.

(B) Higher Education Louisiana Partnership Program. (1) Upon appropriation by the legislature, the monies in the fund shall be divided into matching grants for the Higher Education Louisiana Partnership Program which shall be administered by the Board of Regents. The Board of Regents may allocate program funds to each public or independent institution of higher education on a one to one and one-half matching basis or one twenty thousand dollar state matching grant for each thirty thousand dollars raised specifically for the purposes of participation in the Higher Education Louisiana Partnership Program by the institutions of higher education from private sources. The state matching portion shall be allocated by the Board of Regents only after it determines that an eligible institution has accumulated not less than the minimum required amount from private sources for the purposes of the Higher Education Louisiana Partnership Program.

(2)(a) No public institution of higher education shall be eligible in any given fiscal year to receive a share of program funds which is greater than that institution's proportion of the full-time equivalent number of students enrolled in public higher education in the state.

(b) No independent institution of higher education shall be eligible in any given fiscal year to receive a share of program funds which is greater than that institution's proportion of the full-time equivalent number of students enrolled in independent institutions of higher education in the state.

(c) However, if there are monies which have been appropriated to the fund but remain on March first of any fiscal year unallocated to any matching grant, then any participating institution of higher education which has raised the required funds from private sources may apply for and be awarded the number of additional matching grants for which unallocated funding is available and which the institution is able to match. Provided however, that no participating institution shall receive more than fifty percent of available funds in any fiscal year.

(d) However, the share of the program funds received annually by independent institutions of higher education shall not exceed fifteen percent in the aggregate of the total amount of program funds available for matching grants under this program.

(3) State matching funds shall be applied only to private source funds contributed after July 1, 1991, and pledged for the purposes of this Section as certified by the Board of Regents. Pledged contributions shall not be eligible for state matching funds prior to their actual collection.

(4) Each institution of higher education may establish its own Higher Education Louisiana Partnership Program fund as a depository for private contributions and state matching funds as provided herein. The state matching funds allocated by the Board of Regents shall be transferred to an institution upon notification that the institution has received and deposited the necessary private contributions in its own Higher Education Louisiana Partnership Program fund.

(5) Each institution of higher education, under the supervision and management of its board, shall have the responsibility for the administration of the Higher Education Louisiana Partnership Program at that institution and for maintenance and investment of its fund. The institution shall be responsible for soliciting and receiving gifts from private sources to be used for the purposes of this Section.

(6) State matching grants from funds allocated for the Higher Education Louisiana Partnership Program may be made for the purposes of endowed professorships totaling one hundred thousand dollars or more; endowed undergraduate scholarships totaling fifty thousand dollars or more; library acquisitions, laboratory enhancement, or research and instructional equipment acquisitions totaling fifty thousand dollars or more; or facilities construction or renovations totaling one hundred thousand dollars or more.

(7) The monies appropriated by the legislature and disbursed from the Higher Education Louisiana Partnership Fund shall not displace, replace, or supplant appropriations for higher education from the general fund or from bond proceeds. This shall mean that no disbursement from the fund for a current fiscal year shall be made for any higher education purpose for which an appropriation was made the previous year from the general fund or from bond proceeds unless the total appropriations for the current fiscal year for higher education from the state general fund or from bond proceeds exceed general fund appropriations or bond proceeds appropriations for higher education for the previous year. This requirement shall in no way limit appropriations from the general fund or from bond proceeds in excess of the minimum amounts herein established.

(C) Implementation.

The legislature shall provide for the implementation of this Section.

Added by Acts 1991, No. 1069, §1, approved Oct. 19, 1991, ff. Nov. 21, 1991.