Louisiana Administrative Code
Title 13 - ECONOMIC DEVELOPMENT
Part I - Financial Incentive Programs
Chapter 35 - Retention and Modernization Program
Section I-3505 - Eligibility Requirements
Universal Citation: LA Admin Code I-3505
Current through Register Vol. 50, No. 3, March 20, 2024
A. An employer must meet two sets of requirements.
1. Qualifying Manufacturer
a. Eligible Employers. To qualify for a
contract pursuant to this Chapter, employers must be a manufacturer, as defined
by North American Industry Classification System (NAICS) codes: 113310, 211,
213111, 541360, 311-339, 511-512 and 54171 as the employer's primary
function.
b. Ineligible Employers.
Employers engaged in the following professions or services, and identified by
the following NAICS codes, shall not be eligible for any credits under this
Chapter:
i. retail employers (44 and
45);
ii. business associations and
professional organizations (8139);
iii. state and local governmental
enterprises;
iv. real estate
agents, operators and lessors;
v.
automotive rental and leasing; local solid waste disposal, local sewer systems,
and local water systems business;
vi. non-profit organizations;
vii. gaming industry (713219 and
721120);
viii. attorneys.
c. The department may promulgate
rules annually listing other employers, professions or service industries which
are eligible and not eligible for any credit pursuant to this Chapter, and such
rules shall not take effect unless presented to LEDC and approved by both the
House Ways and Means Committee and the Senate Committee on Revenue and Fiscal
Affairs in a public meeting held for such purpose.
2. Qualifying Event
a. Efficiency. The employer must establish an
increase of greater than 10 percent in the maximum capacity or efficiency of
the facility; or
b. Investment. An
employer with multi-state operations and an established competitive capital
project must make an approved investment of at least $5 million dollars in the
facility.
B. No contract or certification shall be executed with an employer who:
1. has defaulted on or otherwise not repaid
any loan or other obligation involving public funds, nor with any employer who
has ever declared bankruptcy under which an obligation of the employer to pay
or repay public funds or monies was discharged as part of such bankruptcy;
or
2. is in default on any filing
or payment with or to the state or any of its agencies or political
subdivisions and in which an assessment or judgment that is final and
non-appealable has been rendered, and remains outstanding, in favor of the
state, or any of its agencies, or political subdivisions.
C. No project placed in service before July 1, 2011 shall be eligible for the tax credits authorized pursuant to this program.
D. If approved and subsequently issued a tax credit allocation letter, an applicant shall commit to continue business operations in the state for at least the five year period of the tax credit allocation.
1. If an
applicant fails to continue business operations in the state, it may retain
credits already granted, but the department reserves the right to withhold
previously reserved, but not yet granted tax credits.
AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104, 36:108, and 51:2332 et seq.
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.