La. Admin. Code tit. 13 § I-2703
Basic Health Benefits Plan- a health benefits plan which shall be determined by the Department of Economic Development to have a value of at least $1.25 per hour; shall include coverage for basic hospital care, and coverage for physician care; and shall include coverage for health care, which shall be the same coverage as is provided to employees employed in a bona fide executive, administrative, or professional capacity by the employer who are exempt from the minimum wage and maximum hour requirements of the federal Fair Labor Standards Act, 29 U.S.C.A. § 201 et seq.
Commercialization- the development of a technology into a commercial product by going through the process of prototyping, securing funding, and other steps necessary to get the final product to the marketplace. Commercialization begins after a technology has been reduced to practice and the company is proceeding to develop a commercial market.
Commercialization Costs- investment in machinery and equipment, all expenditures associated with obtaining the rights to use or the use of technology, including fees related to patents, copyrights, and licenses, payments to Louisiana universities for research agreements, and payments to third-party Louisiana research or clinical trial companies.
Credit Certification- a certification by DED of the amount of the technology commercialization credit earned by a taxpayer for a particular tax year.
DED- Louisiana Department of Economic Development.
Eligibility Certification- a certification by the DED that a taxpayer is eligible to earn technology commercialization credits.
LDR- Louisiana Department of Revenue.
Machinery and Equipment- machinery or equipment that is a capital asset used in a trade or business subject to depreciation under federal tax law that is placed in service and used in Louisiana.
New Direct Job- employment in Louisiana of an employee working an average of at least 30 hours per week, who was not previously on the taxpayer's payroll in Louisiana, nor previously on the payroll of the taxpayer's parent entity, subsidiary, or affiliate in Louisiana, or previously on the payroll of any business whose physical plant and employees are substantially the same as those of the taxpayer in Louisiana and meets the following requirements:
a. the employee shall occupy a job which did not exist in Louisiana prior to the fiscal year of the taxpayer during which the taxpayer filed an application for eligibility to earn tax credits pursuant to §2705 below.
b. shall not mean any job that is a result of job shifts due to the gain or loss of an in-state contract to supply goods and services. New direct job shall not mean any employees who were retained following the acquisition of all or part of an in-state business by an employer.
Taxpayer- a natural person, business, corporation, or other business entity that seeks to or has become qualified to claim a credit on any income or corporation franchise tax liability against taxes owed to Louisiana.
Technology- the product or intellectual property owned or research sponsored at a regionally accredited college, technical school, or university located in Louisiana or any product or intellectual property to which significant development or enhancement occurred in Louisiana
Technology Commercialization Credits- credits against Louisiana income or corporation franchise taxes that are earned by a taxpayer for investment in commercialization costs.
Technology Jobs Credit- credits against Louisiana income or corporation franchise taxes that are earned by a taxpayer for new direct jobs.
La. Admin. Code tit. 13, § I-2703