Louisiana § 47:4303 Review of exemption applications

Louisiana Statutes

§ 47:4303 — Review of exemption applications

Louisiana·Title 47 Revenue and Taxation

§4303. Review of exemption applications

A.Applications for contracts of exemption shall be addressed to Louisiana Economic Development, and a notice of the application and amount and type of exemption thereof shall be transmitted to each member of the legislature and to the assessor and governing authority of each political subdivision wherein the manufacturing establishment is located or is to be located, at the same time that the application is sent to Louisiana Economic Development. Louisiana Economic Development shall review applications to determine whether the requirements for an exemption contract have been satisfied and shall determine whether exemptions should be provided in a contract of exemption to be recommended to the Board of Commerce and Industry. The Department of Revenue

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§4303. Review of exemption applications
A. Applications for contracts of exemption shall be addressed to Louisiana
Economic Development, and a notice of the application and amount and type of exemption
thereof shall be transmitted to each member of the legislature and to the assessor and
governing authority of each political subdivision wherein the manufacturing establishment
is located or is to be located, at the same time that the application is sent to Louisiana
Economic Development. Louisiana Economic Development shall review applications to
determine whether the requirements for an exemption contract have been satisfied and shall
determine whether exemptions should be provided in a contract of exemption to be
recommended to the Board of Commerce and Industry. The Department of Revenue shall
aid Louisiana Economic Development in determining whether the tax information furnished
by the applicant is true and correct.
B. The Board of Commerce and Industry shall review any recommendations for
exemptions made by the governor and Louisiana Economic Development. The board shall
conduct public hearings on any application for exemption, upon such terms and under such
procedures as it shall provide by rule. The board shall forward its recommendations, together
with the proposed contract between the board and the applicant and all other supporting
documents, to Louisiana Economic Development, to the governor and the Legislative Budget
Committee, to the assessor and to each member of the legislature, and to the governing
authority of the political subdivision prior to action by the governor thereon. Upon receipt
of the recommendations and proposed contract the governor and the Legislative Budget
Committee shall each have thirty days to approve or reject the contract and, if approved, to
thereafter return the contract to the board, Louisiana Economic Development, and the
Department of Revenue for implementation.