reglab/statecodes huggingface dataset:
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 43 - Competitive Projects Payroll Incentive Program › Section I-4301 - General

Current through Register Vol. 50, No. 6, June 20, 2024
A. The Competitive
				Projects Payroll Incentive Program (the "program") provides an incentive rebate
				of up to 15 percent of a participating company's new payroll. The secretary
				("secretary") of the Louisiana Department Economic Development ("LED") may
				invite businesses who meet the eligibility requirements to participate in the
				program.
AUTHORITY NOTE:
				  Promulgated in accordance with Act 507 of the 2012 Regular Session of the
				  Louisiana Legislature.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 43 - Competitive Projects Payroll Incentive Program › Section I-4303 - Eligibility Requirements; Invitation to Participate; Application

Current through Register Vol. 50, No. 6, June 20, 2024
A. The secretary
				may invite a business to participate in the program, upon determining the
				business meets all of the following criteria:
1. at least 50 percent of the total annual
				sales of the business from its Louisiana site or sites is to out-of-state
				customers or buyers, or to in-state customers or buyers who resell the product
				or service to an out-of-state customer or buyer for ultimate use, or to the
				federal government, or any combination thereof;
2. the business will primarily engage in one
				of the following activities at the project site:
a. manufacturing of the following types of
				durable goods:
i. automobiles, motorcycles or
				other passenger vehicles, or components thereof;
ii. aircraft or components thereof;
iii. spacecraft or components
				thereof;
iv. medical
				devices;
v. batteries or other
				power storage devices;
vi. motors,
				engines, turbines or components thereof;
vii. environmental control systems;
viii. household appliances;
ix. computers, computer peripherals or
				components thereof;
x.
				communications equipment;
xi. audio
				or video equipment;
xii.
				semiconductors;
xiii.
				consumer-oriented electronic devices or components thereof;
xiv. industrial machinery; or
xv. construction heavy equipment such as
				excavators ;
b.
				manufacturing of pharmaceutical products;
c. conversion of natural gas to diesel, jet
				fuel, or other refined fuels;
d.
				data storage or data services, provided that at least 75 percent of sales meet
				the out-of-state sales requirements of this Subsection; or
e. other activities as recommended by the
				secretary and approved by the Joint Legislative Committee on the Budget;
				and
f. the business offers or will
				offer a basic health benefits plan to individuals it employs within 90 days of
				the effective date of qualifying for the incentive rebates pursuant to
				R.S.
				51:3111;
3. the following types of businesses shall
				not be eligible for participation in the program:
a. a business engaged in gaming or
				gambling;
b. a business primarily
				engaged in natural resource extraction or exploration, unless the project
				activity is the conversion of natural gas to diesel, jet fuel, or other refined
				fuels; or
c. a business primarily
				engaged in retail sales, real estate, professional services, financial
				services, venture capital funds, shipbuilding, wood products, agriculture, or
				manufacturing of machinery or equipment primarily intended to serve the energy
				industry.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 43 - Competitive Projects Payroll Incentive Program › Section I-4305 - Contract Approval

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Contract. The secretary shall determine the terms and conditions of the
				contract, including the term, rebate rate, maximum rebate amount, performance
				obligations and the consequences of any failure to perform such
				obligations.
B. Approval
1. The secretary may request approval of the
				contract by the Joint Legislative Committee on the Budget upon determining
				that:
a. the business meets all eligibility
				requirements;
b. participation in
				the program is needed in a highly competitive site selection situation to
				encourage the business to locate the project in the state; and
c. securing the project will result in
				significant positive economic benefit to the state.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 43 - Competitive Projects Payroll Incentive Program › Section I-4307 - Contract Renewal

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Upon application by a qualified business, and LED's determination that the
				business continues to meet eligibility requirements and contract performance
				obligations, the secretary may renew the contract for an additional period of
				up to five years. LED shall submit a copy of the renewal to the Louisiana
				Department of Revenue.
AUTHORITY NOTE:
				  Promulgated in accordance with Act 507 of the 2012 Regular Session of the
				  Louisiana Legislature.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 43 - Competitive Projects Payroll Incentive Program › Section I-4309 - Annual Certification of Eligibility

Current through Register Vol. 50, No. 6, June 20, 2024
A. The qualified business must submit
				certification (signed by a key employee of the business) that it continues to
				meet all eligibility requirements of the program as well as all performance
				obligations of the contract by September 1 of each year unless the contract
				designates another reporting deadline. A company's failure to submit the annual
				certification of eligibility by the deadline provided for in this Section shall
				result in the forfeiture of benefits for the previous tax year and the
				secretary, in his discretion, may terminate the contract. LED may require an
				audit of any annual certification at the expense of the qualified
				business.
B. Annually, LED will
				verify that a participating company continues to meet the eligibility
				requirements of the program as well as performance obligations of the contract
				and submit the rebate claim to the Louisiana Department of Revenue for
				payment.
C. If a business fails to
				maintain the eligibility requirements for participation in the program or fails
				to meet the performance objectives in the contract, the department may suspend
				or terminate the contract.
AUTHORITY NOTE:
				  Promulgated in accordance with Act 507 of the 2012 Regular Session of the
				  Louisiana Legislature.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 43 - Competitive Projects Payroll Incentive Program › Section I-4311 - Severability

Current through Register Vol. 50, No. 6, June 20, 2024
A. If any Section
				or provision of this Chapter is held invalid, such invalidity shall not affect
				other provisions of this Chapter. Any provision of this Chapter that is in
				conflict with the statutory provisions of this program or any other statute
				will be invalid and will be severable.
AUTHORITY NOTE:
				  Promulgated in accordance with Act 507 of the 2012 Regular Session of the
				  Louisiana Legislature.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 45 - Corporate Headquarters Relocation Program › Section I-4501 - General

Current through Register Vol. 50, No. 6, June 20, 2024
A. The Corporate
				Headquarters Relocation Program (the "program") provides a rebate equal to 25
				percent of a participating company's relocation costs when they relocate or
				expand their headquarters within Louisiana. The secretary ("secretary") of the
				Louisiana Department Economic Development ("LED") may invite businesses who
				meet the eligibility requirements to participate in the program.
AUTHORITY NOTE:
				  Promulgated in accordance with Act 503 of the 2012 Regular Session of the
				  Louisiana Legislature.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 45 - Corporate Headquarters Relocation Program › Section I-4503 - Eligibility Requirements; Invitation to Participate; Application

Current through Register Vol. 50, No. 6, June 20, 2024
A. The secretary
				may invite a business to participate in the program, upon determining the
				business meets all of the following criteria:
1. the business is relocating a headquarters
				to Louisiana or is expanding headquarters in Louisiana;
2. the secretary determines that
				participation in the program will be a significant factor in a highly
				competitive site selection situation to encourage the business to relocate or
				expand the headquarters in Louisiana;
3. the secretary determines that securing the
				project will result in a significant positive economic benefit to the state;
				and
4. relocation or expansion of
				the headquarters will create at minimum of 25 headquarters jobs.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 45 - Corporate Headquarters Relocation Program › Section I-4505 - Contract Approval

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Contract. The secretary shall determine the terms and conditions of the
				contract, including but not limited to, scope of the project, performance
				obligations, determination of qualifying relocation costs, and the maximum
				amount of qualifying relocation costs eligible for the rebate.
B. Approval
1. The secretary may request approval of the
				contract by the Joint Legislative Committee on the Budget upon determining the
				company meets the eligibility requirements of the program.
2. The Joint Legislative Committee on the
				Budget may approve the contract for the business' participation in the
				program.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 45 - Corporate Headquarters Relocation Program › Section I-4507 - Certification of Qualifying Relocation Costs and Rebate Payment

Current through Register Vol. 50, No. 6, June 20, 2024
A. The qualified
				business must provide LED with a cost report detailing all relocation costs
				upon completion of the relocation or expansion. LED will review the cost report
				and certify a dollar value of relocation expenditures eligible for the rebate.
				LED may require an audit of the relocation costs at the expense of the
				qualified business.
B. The rebate
				shall be claimed by the business in equal installments over a five year period
				of time.
1. No payment of a rebate shall be
				made in the same fiscal year in which the contract is approved by the Joint
				Legislative Committee on the Budget.
2. The business shall claim the rebate on a
				form prescribed by the Secretary of the Louisiana Department of
				Revenue.
3. A request for rebate
				may not be made more than 30 days prior to the business's right to receive the
				rebate.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 45 - Corporate Headquarters Relocation Program › Section I-4509 - Severability

Current through Register Vol. 50, No. 6, June 20, 2024
A. If any Section
				or provision of this Chapter is held invalid, such invalidity shall not affect
				other provisions of this Chapter. Any provision of this Chapter that is in
				conflict with the statutory provisions for this program or any other statute
				will be invalid and will be severable.
AUTHORITY NOTE:
				  Promulgated in accordance with Act 503 of the 2012 Regular Session of the
				  Louisiana Legislature.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 47 - Competitive Projects Tax Exemption Program › Section I-4701 - General

Current through Register Vol. 50, No. 6, June 20, 2024
A. The competitive
				projects tax exemption program provides an ad valorem property tax exemption
				for the facility of an eligible business. The secretary of the department
				economic development ("LED") or a local governmental entity listed in
				R.S.
				47:4353 may invite targeted non-manufacturing
				businesses who meet the eligibility requirements to participate in the
				program.
B. Only property on which
				ad valorem taxes have not previously been paid will be eligible for the
				exemption. The applicant shall provide documentation to LED that property taxes
				have not previously been paid on the property for which it seeks the
				exemption.
C. Definitions
Facility-
the land, buildings,
				  infrastructure, and equipment necessary or beneficial to the project, and any
				  additions, expansion and improvements thereto.
Program-
the competitive projects tax
				  exemption program.
Secretary-
secretary of the Louisiana
				  Department of Economic Development.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  47:4351 et
				  seq.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 47 - Competitive Projects Tax Exemption Program › Section I-4703 - Parish Participation in the Program

Current through Register Vol. 50, No. 6, June 20, 2024
A. A contract for the program is available
				for projects located in parishes which have agreed to participate in the
				program.
B. A parish is eligible to
				participate in the program upon approval by all of the following local
				governmental entities:
1. the parish governing
				authority;
2. all municipalities in
				the parish which levy an ad valorem tax;
3. all school boards in the parish which levy
				an ad valorem tax;
4. the parish
				law enforcement district; and
5.
				the parish assessor.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 47 - Competitive Projects Tax Exemption Program › Section I-4705 - Eligibility Requirements; Invitation to Participate; Application

Current through Register Vol. 50, No. 6, June 20, 2024
A. At the
				invitation of the secretary or a local governmental entity of a participating
				parish, a business may apply for participation in the program by submitting
				certified statements and substantiating documents as required by LED.
B. The secretary or a local governmental
				entity of a participating parish may invite a business to participate in the
				program, upon the secretary's determination that the business meets all of the
				following criteria:
1. at least 50 percent of
				the total annual sales of the business from its Louisiana site or sites is to
				out-of-state customers or buyers, or to in-state customers or buyers who resell
				the product or service to an out-of-state customer or buyer for ultimate use,
				or to the federal government, or any combination thereof;
2. the business will primarily engage in one
				of the following activities at the project site:
a. corporate headquarters;
b. distribution facilities;
c. data service centers;
d. research and development operations;
				or
e. digital media and software
				development centers; and
3. the business shall make capital
				expenditures of at least $25,000,000 for the facility and create and maintain
				at least 50 new direct jobs during the contract period;
4. except for a business providing at least
				50 new headquarters jobs or shared service center jobs, a business primarily
				engaged in the following types of businesses shall not be eligible for
				participation in the program:
a. retail
				sales;
b. real estate;
c. professional services;
d. natural resource extraction or
				exploration;
e. financial services;
				or
f. venture capital
				funds;
5. no business
				engaged in gaming or gambling operations shall be eligible for participation in
				this program.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 47 - Competitive Projects Tax Exemption Program › Section I-4707 - Contract Approval

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Contract. The secretary shall determine the terms and conditions of the
				contract, including the term, performance obligations, monitoring by the
				department, reporting by the business, auditing of contract performance and the
				consequences of any failure to perform such obligations.
B. Approval
1. The secretary may request approval of the
				contract by the board of commerce and industry upon determining that:
a. the business meets all eligibility
				requirements;
b. participation in
				the program is needed in a highly competitive site selection situation to
				encourage the business to locate the project in the state; and
c. securing the project will result in
				significant positive economic benefit to the state.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 47 - Competitive Projects Tax Exemption Program › Section I-4709 - Annual Certification of Eligibility; Suspension or Termination

Current through Register Vol. 50, No. 6, June 20, 2024
A. The qualified
				business must submit certification (signed by a key employee of the business)
				that it continues to meet all eligibility requirements of the program as well
				as all performance obligations of the contract by April 1 of each year. A
				company's failure to submit the annual certification of eligibility by the
				deadline provided for in this section shall result in the forfeiture of
				benefits for the previous tax year and the secretary, in his discretion, may
				terminate the contract. LED may require an audit of any annual certification at
				the expense of the qualified business.
B. Annually, LED will verify that a
				participating company continues to meet the eligibility requirements of the
				program as well as performance obligations.
C. If a business fails to maintain the
				eligibility requirements for participation in the program or fails to meet the
				performance objectives in the contract, the secretary may, at his discretion,
				suspend or terminate the contract.
1. A
				contract suspension shall remove the exemption for the year in which the
				failure occurred, but the secretary may lift the suspension following a year in
				which eligibility requirements and performance obligations are met, and the
				exemption shall then be restored effective for that year.
2. A contract cancellation shall remove the
				exemption for the calendar year in which the failure occurred and all future
				years.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 49 - Small Business Innovation Retention Fund Program › Section I-4901 - Purpose

Current through Register Vol. 50, No. 6, June 20, 2024
A. The purpose of
				this Chapter is to implement the Small Business Innovation Retention Fund
				Program as established by
				R.S.
				51:2401.
B. This Chapter shall be administered to
				achieve the following purposes:
1. to support
				and retain Louisiana jobs in STEM and other high-tech industries; and
2. to retain Louisiana small innovative
				businesses by providing financial assistance to certain businesses that have
				received certain small business innovation research (SBIR) or small business
				technology transfer (STTR) grant funds.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 49 - Small Business Innovation Retention Fund Program › Section I-4903 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
A. Terms not
				otherwise defined in this Chapter shall have the same meaning given to them in
				R.S.
				51:2401, unless the context clearly requires
				otherwise.
B. In this Chapter, the
				following terms shall have the meanings provided herein, unless the context
				clearly indicates otherwise.
Applicant
-a person requesting a grant award
				  from LED under this program.
Department
-Louisiana Department of Economic
				  Development.
Federal Notice of Award
-a document issued by
				  a federal agency evidencing approval of an SBIR or STTR application, including
				  but not limited to amount of funding awarded, agreement number and topic
				  number.
LED
-Louisiana Department of Economic
				  Development.
LED Grant Letter
-a letter issued by LED to a
				  person for a particular calendar year, setting forth the amount, terms and
				  conditions of the grant.
Louisiana Small Business-
a for profit,
				  Louisiana domiciled business with fewer than 500 employees.
Person
-any natural person or legal entity
				  including an individual, corporation, partnership, or limited liability
				  company.
Retention Fund-
Small Business Innovation
				  Retention Fund.
Secretary
-Secretary of the Louisiana
				  Department of Economic Development.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  36:104 and
				  51:2401
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 49 - Small Business Innovation Retention Fund Program › Section I-4905 - General Principles

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				following general principles will direct the administration of the program.
1. Awards are not be considered as an
				entitlement for companies, and the secretary has the final authority to
				determine whether or not each particular applicant is eligible and meets the
				criteria of the award, and in all such circumstances, the exercise of that
				discretion shall be deemed to be a final determination of the applicant's award
				status.
2. Applications shall be
				accepted on a year round basis, subject to availability of funding in any given
				year, or as otherwise determined by LED.
3. Applicants may apply for more than one
				program administered by LED, provided that separate applications are submitted
				per program.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 49 - Small Business Innovation Retention Fund Program › Section I-4907 - Eligibility

Current through Register Vol. 50, No. 6, June 20, 2024
A. Eligible
				applicants for the benefits of this program shall be Louisiana small businesses
				that receive a Federal Notice of Award on or after June 15, 2022.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  36:104 and
				  51:2401.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 49 - Small Business Innovation Retention Fund Program › Section I-4909 - Application Procedure

Current through Register Vol. 50, No. 6, June 20, 2024
A. LED
				will provide a standard application form which applicants will be required to
				use to apply for assistance under this program. The application form will
				contain, but not be limited to, the following:
1. business name;
2. contact person and their title;
3. business physical address;
4. business phone number and email
				address;
5. brief description of
				the nature of the business;
6.
				number of employees;
7. secretary
				of state registration;
8.
				information evidencing SBIR or STTR award, including name of issuing federal
				agency;
9. any additional
				information requested by LED.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 49 - Small Business Innovation Retention Fund Program › Section I-4911 - Selection Criteria

Current through Register Vol. 50, No. 6, June 20, 2024
A. LED
				will consider various factors when determining which applications will be
				funded. Among the factors which may be taken into consideration are the
				following;
1. disbursing of funding
				statewide;
2. availability of
				funding; and
3. best interests of
				the state.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 49 - Small Business Innovation Retention Fund Program › Section I-4913 - LED Action-Grant Approval or Denial Provisions

Current through Register Vol. 50, No. 6, June 20, 2024
A. In the event LED determines that an
				applicant is eligible, funding is available and a grant would be appropriate, a
				grant letter will be issued, specifying the amount, the terms and conditions of
				the grant.
B. Grant funds will be
				disbursed to the approved applicants as follows:
1. Phase I SBIR or STTR applicants shall
				receive 25 percent of the federal grant received, not to exceed $50,000 per
				applicant;
2. Phase II SBIR or STTR
				applicants shall receive 20 percent of the federal grant received, not to
				exceed $100,000 per applicant;
3.
				Each grant awarded shall be divided into two equal amounts and disbursed over a
				period of two consecutive years as follows:
a.
				Year 1 funding may be awarded based upon the amount stated in the federal
				notice of award;
b. Year 2 funding
				shall be awarded contingent upon the actual federal grant funding received, as
				supported by reporting documentation of recipient and any other compliance
				information requested by LED. In the event of any deviation from the
				anticipated total federal grant funding, LED reserves the right to increase or
				decrease the Year 2 award to ensure compliance with the maximum award
				provisions.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 51 - Small Business Innovation Recruitment Fund Program › Section I-5101 - Purpose

Current through Register Vol. 50, No. 6, June 20, 2024
A. The purpose of
				this Chapter is to implement the Small Business Innovation Recruitment Fund
				Program as established by
				R.S.
				51:2402.
B. This Chapter shall be administered to
				achieve the following purposes:
1. to recruit
				out of state small businesses that have received Phase II Small Business
				Innovation Research (SBIR) or Phase II Small Business Technology Transfer
				(STTR) federal grant funds to move to Louisiana.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 51 - Small Business Innovation Recruitment Fund Program › Section I-5103 - Definitions.

Current through Register Vol. 50, No. 6, June 20, 2024
A. Terms not
				otherwise defined in this Chapter shall have the same meaning given to them in
				R.S.
				51:2402, unless the context clearly requires
				otherwise.
B. In this Chapter, the
				following terms shall have the meanings provided herein, unless the context
				clearly indicates otherwise.
Applicant-
a person requesting a grant award
				  from LED under this program.
Business Operations-
the location where
				  significant administrative or managerial activities of a business are conducted
				  and research and development work is performed.
Department-
Louisiana Department of Economic
				  Development.
Federal Notice of Award-
a document issued by
				  a federal agency evidencing approval of a Phase II SBIR or Phase II STTR
				  application, including but not limited to amount of funding awarded, agreement
				  number and topic number.
LED-
Louisiana Department of Economic
				  Development.
LED Grant Letter
-a letter issued by LED to a
				  person for a particular calendar year, setting forth the amount, terms and
				  conditions of the grant.
Out of State Small Business-
a business
				  domiciled outside of Louisiana that qualifies as a small business according to
				  the United States Small Business Administration's size standards.
Person
-any natural person or legal entity
				  including an individual, corporation, partnership, or limited liability
				  company.
REAL-
Regional Economic Alliance of
				  Louisiana.
Recruitment Fund-
Small Business Innovation
				  Recruitment Fund.
Relocate-
relocate business operations from
				  an out of state location to Louisiana. The company shall be required to
				  maintain a physical location in this state, be licensed to conduct business in
				  this state and shall be required to file a Louisiana income tax return.
Secretary-
Secretary of the Louisiana
				  Department of Economic Development.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  36:104 and
				  51:2402.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 51 - Small Business Innovation Recruitment Fund Program › Section I-5105 - General Principles

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				following general principles will direct the administration of the program.
1. Awards are not to be considered as an
				entitlement for companies, and the secretary has the final authority to
				determine whether or not each particular applicant is eligible and meets the
				criteria of the award, and in all such circumstances, the exercise of that
				discretion shall be deemed to be a final determination of the applicant's award
				status.
2. Applications shall be
				accepted on a year round basis, subject to availability of funding in any given
				year, or as otherwise determined by LED.
3. Applicants may apply for more than one
				program administered by LED, provided that:
a.
				separate applications are submitted per program; and
b. to the extent allowable under federal and
				state laws and regulations.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 51 - Small Business Innovation Recruitment Fund Program › Section I-5107 - Eligibility Criteria

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Applicants for the benefits of this program shall meet the following criteria:
1. the applicant shall be an out of state
				small business that has received a Phase II SBIR or Phase II STTR Federal
				Notice of Award within the two years immediately preceding submission of an
				application to this program;
2. the
				applicant shall have generated sales and revenue and shall provide
				documentation proving such;
3. the
				applicant shall have produced commercial products or conducted commercial
				services, and shall provide documentation proving such.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 51 - Small Business Innovation Recruitment Fund Program › Section I-5109 - Application Procedure

Current through Register Vol. 50, No. 6, June 20, 2024
A. LED
				will provide a standard application form which applicants will be required to
				use to apply for assistance under this program. The application form will
				contain, but not be limited to, the following:
1. out of state small business
				name;
2. contact person and their
				title;
3. out of state business
				physical address;
4. business phone
				number and email address;
5. brief
				description of the nature of the business;
6. number of existing employees and estimated
				jobs to be created or relocated in Louisiana;
7. out of state evidence of business
				registration;
8. information
				evidencing Phase II SBIR or Phase II STTR award, including name of issuing
				federal agency;
9. proposed
				Louisiana business location;
10.
				proposed relocation timeframe;
11.
				any additional information requested by LED.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 51 - Small Business Innovation Recruitment Fund Program › Section I-5111 - Selection Criteria

Current through Register Vol. 50, No. 6, June 20, 2024
A. LED
				will consider various factors when determining which applications will be
				funded. Among the factors which may be taken into consideration are the
				following;
1. nominations of eligible small
				businesses recommended by REAL;
2.
				disbursing of funding statewide;
3.
				number of employees to be relocated to Louisiana;
4. nature of industry;
5. nature of business entity created in
				Louisiana, i.e. whether original out of state entity is dissolved, or
				reorganized and merged into a new Louisiana entity, or whether registering as a
				foreign entity authorized to do business in Louisiana.
6. availability of funding; and
7. best interests of the state.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 51 - Small Business Innovation Recruitment Fund Program › Section I-5113 - LED Action-Grant Approval or Denial Provisions

Current through Register Vol. 50, No. 6, June 20, 2024
A. In the event LED determines that an
				applicant is eligible, funding is available and a grant would be appropriate, a
				grant letter will be issued, specifying the amount, the terms and conditions of
				the grant.
B. Each grant awarded
				shall be divided into three equal amounts and disbursed over a period of three
				consecutive years as follows:
1. year one
				funding may be awarded based upon the application information provided but will
				not be disbursed until documentation has been provided that the applicant
				business has relocated to Louisiana. If the selected applicant fails to
				relocate or to provide evidence of such, the grant shall be forfeited, and the
				money shall be disbursed to another applicant;
2. year two funding shall be awarded
				contingent upon evidence of continued business operation;
3. year three funding shall be awarded
				contingent upon evidence of continued business operation;
4. if an applicant fails to continue business
				operations in the state in any given year, it may retain funding already
				disbursed, but the department reserves the right to withhold previously
				reserved, but not yet disbursed funding.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part III - Financial Assistance Programs › Chapter 1 - Economic Development Award Program (EDAP), Economic Development Loan Program (EDLOP) and Economic Development Site Readiness Program (EDRED) › Subchapter A - Economic Development Award Program (EDAP) › Section III-101 - Economic Development Award Program (EDAP); Preamble and Purpose

Current through Register Vol. 50, No. 6, June 20, 2024
A. The Economic
				  Development Award Program (EDAP) is vital to support, promote and enhance the
				  state's commitment to Targeted Industry-Based Economic Development, and the
				  state's long term goals as set forth in the Louisiana Department of Economic
				  Development's Master Plan for Economic Development for the State of
				  Louisiana.
B. The purpose of this
				  EDAP program is to assist in the financing or funding of Sponsored Projects
				  and/or Unsponsored Projects, further described below, for which LED and LEDC
				  assistance is requested in order to promote economic development in this state
				  and provide an incentive to influence a company's decision to locate, relocate,
				  maintain, rebuild and/or expand its business operations in Louisiana, and/or to
				  increase its capital investment in Louisiana:
1. a sponsored project would include the
				  financing or funding of an expansion, improvements and/or provision of
				  publicly-owned infrastructure for a public entity for the benefit of industrial
				  or business development projects that promote targeted industry economic
				  development and that require state assistance for basic infrastructure
				  development, with a public entity recommending the award, serving as a sponsor
				  of and participating in the award application and the award
				  agreement;
2. an unsponsored
				  project would include the financing or funding for locating, obtaining and/or
				  improving privately-owned property and improvements, including the purchase or
				  leasing of a building site, the purchase or construction, renovation,
				  rebuilding and improvement of buildings, their surrounding property, for
				  machinery and equipment purchases and rebuilding, the demolition or removal of
				  existing buildings and/or improvements if a part of the site preparation for
				  the construction of new buildings and/or improvements, and for additional costs
				  related to and incurred in connection with the location or relocation of the
				  business enterprise, including appropriate professional and/or real estate fees
				  and commissions, but without the requirement of a public entity
				  sponsor.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part III - Financial Assistance Programs › Chapter 1 - Economic Development Award Program (EDAP), Economic Development Loan Program (EDLOP) and Economic Development Site Readiness Program (EDRED) › Subchapter A - Economic Development Award Program (EDAP) › Section III-107 - Eligibility

Current through Register Vol. 50, No. 6, June 20, 2024
A. An eligible
				  application for the award must meet the general principles set forth in
				  Section
				  105 above and the criteria
				  provided in
				  Section
				  109 below; must demonstrate a
				  need for the funding of the project consistent with these rules; and,
1. In connection with a sponsored project,
				  the infrastructure project must be or will be owned by, and the ownership
				  benefits or rights resulting from the infrastructure project must inure to the
				  benefit of one of the following:
a. a public
				  or quasi-public entity; or
b. a
				  political subdivision of the state; or
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part III - Financial Assistance Programs › Chapter 1 - Economic Development Award Program (EDAP), Economic Development Loan Program (EDLOP) and Economic Development Site Readiness Program (EDRED) › Subchapter A - Economic Development Award Program (EDAP) › Section III-109 - Criteria for Projects

Current through Register Vol. 50, No. 6, June 20, 2024
A. In
				  addition to the general principles set forth in
				  §105 and the eligibility requirements
				  provided in
				  §107 above, projects must meet the
				  criteria hereinafter set forth for an award under this program.
1. Job Creation and/or Retention and Capital
				  Investment
a. Projects must create or retain
				  at least 10 permanent full-time jobs in Louisiana, at the project
				  location.
b. Consideration will be
				  given for projects having a significant new private capital
				  investment.
c. The number of jobs
				  to be retained and/or created and the compensation or payroll amounts or levels
				  to be achieved and maintained as stated in the application for the award or as
				  up-dated and finalized in the award agreement, will be strictly adhered to, and
				  will be made an integral part of the award agreement.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part III - Financial Assistance Programs › Chapter 1 - Economic Development Award Program (EDAP), Economic Development Loan Program (EDLOP) and Economic Development Site Readiness Program (EDRED) › Subchapter A - Economic Development Award Program (EDAP) › Section III-111 - Application Procedure for Projects

Current through Register Vol. 50, No. 6, June 20, 2024
A. The applicants must submit an application
				  to LED or LEDC on a form provided by LED or LEDC which shall contain, but not
				  be limited to, the following:
1. a business
				  plan that contains an overview of the company, its history, and the business
				  climate in which it operates, including business projections and, in the
				  discretion of the LEDC Board or the LED or LEDC staff, either audited financial
				  statements, or an independent CPA certification of the company's net worth
				  sufficient to demonstrate to LED or LEDC the financial ability of the company
				  considering the circumstances relating to the award, as well as financial
				  statements of any guarantors which may also be required by the LED or LEDC
				  staff in its discretion;
2. a
				  detailed description of the project to be undertaken, along with the factors
				  creating the need, including the purchase, construction, renovation or
				  rebuilding, operation and maintenance plans, a timetable for the project's
				  completion, and the economic scope of the investment involved in the
				  project;
3. a cash flow analysis of
				  the project, providing detailed support for the use of the funding to be
				  provided, and a proposed repayment schedule for any loan for which the
				  applicant has applied which is consistent with the revenues to be generated by
				  the project;
4. evidence of the
				  number, types and compensation or payroll levels of jobs to be created and/or
				  retained by the company in connection with the project, and the amount of
				  capital investment for the project;
5. a statement or disclosure as to whether or
				  not the company has sought or applied for any other type of financing (public
				  or private) for this project, and the results or disposition of that search
				  and/or application, including documentation from any commercial banks or other
				  lenders specifying the reasons why the banks or other lenders would not extend
				  funding to the applicant;
6.
				  evidence of the support of the local community and the favorable recommendation
				  of the local governing authority for the applicant's project to be funded as
				  requested or described in the award application; and
7. any additional information that the LED or
				  LEDC staff may require.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part III - Financial Assistance Programs › Chapter 1 - Economic Development Award Program (EDAP), Economic Development Loan Program (EDLOP) and Economic Development Site Readiness Program (EDRED) › Subchapter A - Economic Development Award Program (EDAP) › Section III-113 - Submission and Review Procedure for Projects

Current through Register Vol. 50, No. 6, June 20, 2024
A. Applicants must submit their completed
				  application to LED or to LEDC. Submitted applications will be reviewed and
				  evaluated by the staff of LED or LEDC. Input may be required from the
				  applicant, other divisions of the Department of Economic Development, LEDC, and
				  other state agencies as needed in order to:
1. evaluate the strategic importance of the
				  project to the economic well-being of the state and local
				  communities;
2. validate the
				  information presented; and/or
3.
				  determine the overall feasibility of the company's plan.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part III - Financial Assistance Programs › Chapter 1 - Economic Development Award Program (EDAP), Economic Development Loan Program (EDLOP) and Economic Development Site Readiness Program (EDRED) › Subchapter A - Economic Development Award Program (EDAP) › Section III-117- 129 - Reserved

Current through Register Vol. 50, No. 6, June 20, 2024
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part III - Financial Assistance Programs › Chapter 1 - Economic Development Award Program (EDAP), Economic Development Loan Program (EDLOP) and Economic Development Site Readiness Program (EDRED) › Subchapter C - Economic Development Site Readiness Program (EDRED) › Section III-151 - Preamble and Purpose

Current through Register Vol. 50, No. 6, June 20, 2024
A. A
				  robust inventory of sites suitable for business and industrial location and
				  expansion, having characteristics that are competitive with site offerings
				  available in other states and availability for such projects within a short
				  time frame, is essential to economic development in the state. Increasing the
				  number of suitable sites, and eliminating or mitigating factors associated with
				  these sites that can cause uncertainties and delays in project development,
				  will enhance the state's ability to secure these projects and thereby increase
				  the number of jobs in the state.
B.
				  The purpose of this program is to provide financial assistance for readying
				  sites that will be useful in promoting the state as a business and industrial
				  location.
AUTHORITY NOTE:
					 Promulgated in accordance with R.S. 36:104, 36:108,
					 51:2302,
					 51:2312,
					 and
					 51:2341.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part III - Financial Assistance Programs › Chapter 1 - Economic Development Award Program (EDAP), Economic Development Loan Program (EDLOP) and Economic Development Site Readiness Program (EDRED) › Subchapter C - Economic Development Site Readiness Program (EDRED) › Section III-153 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
LED-
the Louisiana Department of Economic
					 Development.
LEDC-
the Louisiana Economic Development
					 Corporation, acting through its board of directors.
Program-
the Economic Development Site
					 Readiness Program (EDRED).
Project-
the location or expansion of a
					 business or industrial facility in the state.
Public Site
-
a site which
					 a public entity owns or for which a public entity holds an option to acquire
					 the ownership for a project.
Site-
immovable property, with or without
					 improvements thereon, located in the state.
Site Readiness Grant-
a monetary grant for
					 the purpose of enhancing the suitability and availability of a site for a
					 project.
AUTHORITY NOTE:
					 Promulgated in accordance with R.S. 36:104, 36:108,
					 51:2302,
					 51:2312,
					 and
					 51:2341.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part III - Financial Assistance Programs › Chapter 1 - Economic Development Award Program (EDAP), Economic Development Loan Program (EDLOP) and Economic Development Site Readiness Program (EDRED) › Subchapter C - Economic Development Site Readiness Program (EDRED) › Section III-155 - Site Readiness Grants

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				  Pursuant to
				  R.S.
				  51:2341, LEDC may award an appropriation or
				  allocation of funds to LED, to be used for site readiness grants.
B. LED may make a site readiness grant upon
				  terms and conditions which it determines, within its discretion, will be
				  beneficial in meeting the goals stated in the preamble and purpose of this
				  Subchapter.
C. Application for a
				  site readiness grant may be made, in a form determined by LED, by the owner or
				  lessor of a site, or by a local governmental entity or an economic development
				  organization on behalf of the owner or lessor.
D. Eligible uses of a site readiness grant
				  may include costs of site assessment, evaluation, preliminary engineering,
				  environmental studies and assessments, soil analysis, wetlands delineation and
				  mitigation, surveys, maps, due diligence, preliminary cost estimates, site
				  preparation, site acquisition, and similar or related costs determined by LED
				  to be beneficial in enhancing the suitability and availability of a site for a
				  potential project.
E. Site
				  readiness grants for non-public sites shall be limited to not more than $1,000
				  per acre, unless a higher amount is approved by LEDC. This limitation shall not
				  apply to public sites.
F. A site
				  readiness grant shall be made through a cooperative endeavor agreement between
				  LED and the site owner, lessor or other applicant, which shall provide for
				  eligible uses of the grant, obligations as to availability of the site,
				  matching funds if any, and other terms and conditions LED determines to be
				  appropriate to further the purposes of this program. Grant funds may be paid to
				  the site owner, lessor or other applicant to undertake the funded activities,
				  or LED may use grant funds to contract with a third party to undertake such
				  activities.
AUTHORITY NOTE:
					 Promulgated in accordance with R.S. 36:104, 36:108,
					 51:2302,
					 51:2312,
					 and
					 51:2341.