La. Admin. Code tit. 13 § I-3953

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-3953 - Final Certification

A. Applicants shall file a request for final certification of credits within 90 days of the end of the port credit incentive period. Requests received after this date shall not be accepted and any tax credits earned shall be deemed waived, unless applicant receives written approval for late submission from LED prior to the deadline.

B. Port credits are earned based upon actual cargo volumes transiting the applicable public port during the port credit incentive period and as such, requests for final certification of credits shall include:

1. evidence of actual cargo volumes transiting the applicable port during the applicable port credit incentive period supported by records from the applicable public port facility. Only cargo that is owned by the port facility user shall be included in the calculation of actual cargo volume.

2. a summary of actual cargo volumes, net new TEUs, and the percentage increase in imported cargo during the port credit incentive period as compared to imported cargo volumes during the base cargo volume period;

3. any additional information required by LED.

C. After review and a determination that applicant has increased its imported cargo volumes by at least one hundred five percent during its port credit incentive period, LED shall issue a final certification of credits and provide to LDR the name and tax identification number of the applicant approved for credits, total amount of credits, and any other information required by LDR.

D. If LED determines that the applicant has not meet qualification requirements, LED shall issue a written denial.

La. Admin. Code tit. 13, § I-3953

Promulgated by the Department of Economic Development, Office of the Secretary, LR 48405 (3/1/2022).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6036.1