La. Admin. Code tit. 13 § I-903

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

Section I-903 - Time Limits for Filing Application

A. The applicant shall submit an "advance notification" on the prescribed form prior to the beginning of construction. An advance notification fee of $250 shall be submitted with the advance notification form. The phase "beginning of construction" shall mean the first day on which foundations are started, or, where foundations are unnecessary, the first day on which installation of the facility begins.

B. Application for tax exemption should be filed with the Office of Commerce and Industry, Box 94185, Baton Rouge, LA 70804-9185 on the form prescribed prior to the beginning of construction. Failure to file an application prior to construction may result in the application being denied.

C. An application fee (effective May 4, 1988) shall be submitted with the application based on the following:

1. 0.5 percent of the estimated total five-year property tax exemption;

2. minimum application fee is $500 for all projects except owner occupied residential properties which have no minimum application fee; maximum application fee is $15,000;

3. please make checks payable to: Louisiana Economic Development.

D. The Office of Commerce and Industry reserves the right to return the advance notification, application, or affidavit of final cost to the applicant if the estimated exemption or the fee submitted is incorrect. The document may be resubmitted with the correct fee. The document will not be considered officially received and accepted until the appropriate fee is submitted. Processing fees, for advance notifications, applications, or affidavits of final cost which have been accepted, may not be refundable.

La. Admin. Code tit. 13, § I-903

Promulgated by the Department of Commerce, Office of Commerce and Industry, Finance Division, LR 11:98 (February 1985), amended LR 12:665 (October 1986), amended by the Department of Economic Development, LR 18:252 (March 1992), Amended LR 42223 (2/1/2016).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:4311-4319.