La. Admin. Code tit. 13 § I-701
Current through Register Vol. 50, No. 9, September 20, 2024
A. Intent of Program. The intent of the program is to stimulate employment for residents in depressed areas of the state that are designated as enterprise zones by providing tax incentives to a business hiring from these areas.B. Description of Program. The Louisiana Enterprise Zone Program is a jobs program that gives tax incentives to a business hiring from certain specified targeted groups of individuals. Enterprise zone program incentives are in addition to other state-sponsored incentives such as the industrial tax exemption program and the Restoration Tax Abatement Program. Enterprise zone and quality jobs programs are mutually exclusive.C. Effective date of Act 423 of the 2013 Regular Session1. The provisions of Act 423 shall apply to advance notification filed on or after June 1, 2013 and prior to April 1, 2016.D. Effective date of Act 18 of the 2016 First Extraordinary Session. 1. The provisions of Act 18 shall apply to advance notification filed on or after April 1, 2016, except as provided below. a. A retail business, hotel or restaurant with an assigned NAICS Code of 44,45,721 or 722, which has no more than fifty employees nationwide including affiliates prior to the contract effective date, and which files or enters into an advance notification on or after July 1, 2020, and before December 31, 2021, shall be eligible to receive benefits. However, no such business shall be eligible to earn benefits pursuant to this section after June 30, 2023.E. Effective date of the 2021 Enterprise Zone Program rule changes. 1. The provisions of the 2021 Enterprise Zone Program rule changes shall apply to advance notifications filed after the date of promulgation, detailed in the Louisiana Register published on July 20, 2021, except for the provisions of §705 codifying current administrative practice, or unless otherwise stipulated by the Louisiana Legislature, in §701.C and D.La. Admin. Code tit. 13, § I-701
Promulgated by the Department of Economic Development, Office of Commerce and Industry, Finance Division, LR 17:252 (March 1991), amended by Department of Economic Development, Office of Commerce and Industry, LR 22:446 (June 1996), amended by the Department of Economic Development, Office of Business Development, LR 29:2298 (November 2003), LR 37:2368 (August 2011), LR 40:490 (March 2014), Amended by the Department of Economic Development, Office of Business Development, LR 42867 (6/1/2016), Amended by the Department of Economic Development, Office of Business Development, LR 47852 (7/1/2021).AUTHORITY NOTE: Promulgated in accordance with R.S. 51:1786(5).