About the Automobile Theft and Insurance Fraud Prevention Authority Fund
Act 711 of the 2004 Regular Session of the Louisiana Legislature created the Louisiana Automobile Theft and Insurance Fraud Prevention Authority (LATIFPA). LATIFPA is a public agency whose purpose is to combat motor vehicle theft, including fraud by theft and other criminal acts.
Act 711 also establishes an Automobile Theft and Insurance Fraud Prevention Authority Fund within LATIFPA. This specially-created funding mechanism is used to collect and disburse funds through a grant process for the purpose of reducing motor vehicle theft and insurance fraud. The Automobile Theft and Insurance Fraud Prevention Authority Fund is administered by the director of the authority as a dedicated fund in the state treasury, upon a majority vote of the LATIFPA board of directors. The monies in the fund shall be invested by the state treasurer in the same manner as monies in the state general fund. All interest earned on money from the fund and invested by the state treasurer shall be credited to the fund.
LATIFPA may solicit and accept gifts, grants, donations, loans and other assistance from any person or entity, private or public which will be deposited into the statutorily dedicated fund created by the Act and will be used for the purpose of establishing programs in conjunction with other state agencies, local governing authorities and law enforcement agencies for motor vehicle theft and insurance fraud prevention, detection and enforcement. LATIFPA may further engage in cooperative endeavors with any public or private association, corporation or individual with similar obligations and purposes as long as all expenditures are for a public purpose and create a public benefit proportionate to the cost.