La. Admin. Code tit. 13 § I-539
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-539 - [Effective until 4/20/2025] Statement of PurposeA. Purpose 1. Louisiana values its manufacturers and their contributions to its economy.2. Article VII, Section 21 (F) of the Louisiana Constitution of 1974 provides that the Board of Commerce and Industry ("Board"), with the approval of the Governor, may enter into contracts for the exemption from ad valorem taxes of a new manufacturing establishment or an addition to an existing manufacturing establishment on such terms and conditions as the Board, with the approval of the Governor, deems is in the best interest of the state.B. Best Interest of the State 1. The provisions set forth in this Subchapter establish the criteria that the governor and the board will consider for purposes of deciding what is in the best interest of the state.C. Applicability 1. The provisions set forth in this Subchapter shall apply to projects with advances filed on or after February 21, 2024.2. The provisions set forth in this Subchapter shall not apply to projects with advances filed prior to February 21, 2024, or ITEP projects approved by the board prior to February 21, 2024.La. Admin. Code tit. 13, § I-539
Promulgated by the State Board of Commerce and Industry and the Department of Economic Development, LR 50, exp. 10/21/2024 (Emergency), Promulgated by the Board of Commerce and Industry and the Louisiana Economic Development, LR 51, exp. 4/20/2025 (Emergency).AUTHORITY NOTE: Promulgated in accordance with Article VII, Part 2, Section 21(F) of the Louisiana Constitution of 1974.