FUNDS/FUNDING: Provides for disposition of monies in the East Baton Rouge Parish Community Improvement Fund (OR SEE FISC NOTE SD RV)

HB 416 modifies how funds in the East Baton Rouge Parish Community Improvement Fund are allocated. It requires that 50% of the fund's annual balance be used for urban mass transit in East Baton Rouge Parish (without replacing existing transit funding) and the remaining 50% must support the Research Park Corporation. Any unspent funds at year-end stay in the fund, and all invested earnings go to the state general fund. The bill directly affects East Baton Rouge Parish by directing specific funding streams for transit and economic development.