La. Admin. Code tit. 13 § I-3907
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-3907 - Certification of Qualifying ExpendituresA. After approval of the certification of sufficient revenue, the applicant may submit a request to LED for certification of qualifying expenditures as follows:1. The applicant must submit a cost report to LED prepared by an independent certified public accountant and prepared in accordance with generally accepted accounting principles.2. DOTD shall inspect the site and verify that the capital costs expenditures were made by verifying that the project components identified in the detailed project description are complete and in place3. LED may require an additional audit by an LED-selected CPA, the cost of which shall be reimbursed by applicant.4. LED shall determine and certify qualifying expenditures.5. Qualifying expenditures shall be certified by LED no more than twice for a project, unless the applicant reimburses LED for the cost of additional certifications.B. A request for the certification of qualifying expenditures must be filed no later than six months after the project becomes operational.C. Except as provided in paragraph §3907. C 1, LED shall not certify as qualifying expenditures any expenditures incurred prior to the application date. 1. LED may certify expenditures incurred prior to the application date if:a. the expenditures are directly related to performance of due diligence for the qualifying project; andb. the expenditures are capital costs as defined in §3901D. LED and DOTD shall have reasonable access to the project site (or location of the fabrication) during and upon completion of activities related to project construction or installation, for the purpose of conducting periodic inspections during project construction or a final inspection.La. Admin. Code tit. 13, § I-3907
Promulgated by the Department of Economic Development, Office of the Secretary, LR 36:2545 (November 2010).AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6036.