La. Admin. Code tit. 13 § I-3947

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-3947 - Eligibility

A. The applicant must be a port facility user engaged in the manufacturing, warehousing, or distribution of goods imported through Louisiana public ports whose primary function is identified by one or more of the NAICS sector codes of 31-33, 42, or 493.

B. The applicant shall be a port facility user that imports more than 50 TEUs of cargo through Louisiana public ports annually or if a new port facility user, then the applicant shall submit a projection of its annual anticipated actual cargo volume, which must exceed 50 TEUs.

C. The applicant shall increase its imported cargo volumes by at least one hundred and five percent during its port credit incentive period as compared to imported cargo volumes during its base cargo volume period.

1. For example, if an applicant established a baseline cargo volume of 250 TEU's, a minimum of an additional 12.50 in TEU's (5 percent) would be required during the incentive period, for a total of 262.50 TEU's (105 percent of base cargo volume).

2. Tax credits shall be calculated based upon the additional, net new TEU only.

D. The applicant shall file an application for port credits with LED.

La. Admin. Code tit. 13, § I-3947

Promulgated by the Department of Economic Development, Office of the Secretary, LR 48404 (3/1/2022).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6036.1