La. Admin. Code tit. 25 § I-1111

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

Section I-1111 - Reporting Requirements

A. By January 31 of each year, the local governing authority shall prepare and submit to the department an annual report on the impact of the certified cultural district with regard to the purposes of the creation of a cultural district. This reporting requirement begins at least one full year after certification.

B. The local governing authority shall submit the annual report in the format set forth by the department.

C. The annual report shall reflect the activity of the prior calendar year.

D. The annual report shall also include cumulative data reflecting activity since the date of the creation of the cultural district.

E. The report shall include information that describes the impact of the tax exemption programs, the tax credit programs, and any other factors that describe the impact of the cultural district on the community, which information shall include but is not limited to:

1. the number, value, and type of historic rehabilitation tax credits applied for;

2. the number, value, and type of historic rehabilitation tax credits awarded;

3. the value of investment in the district through rehabilitation projects or other projects;

4. the number of occupied buildings and use of those buildings;

5. the number of vacant buildings;

6. the sales tax revenue generated in the district;

7. the amount of sales tax exemptions claimed for sales of original, one of a kind works of art; and

8. any other evidence of the level of cultural activity in the district, including the number of cultural events and attendance at each.

F. If the local governing authority fails to submit the annual report timely, the department shall report such failure to the House Committee on Ways and Means, the Senate Committee on Revenue and Fiscal Affairs, and the local legislators in whose legislative districts the cultural district is located.

G. If the local governing authority fails to submit the annual report, the department may revoke certification of the cultural district using the procedure set forth in Section 1119 Such revocation shall not become effective less than one year from the date the department issues the notice of failure to the local governing authority.

La. Admin. Code tit. 25, § I-1111

Promulgated by the Department of Culture, Recreation and Tourism, Office of Cultural Development, LR 34:600 (April 2008), amended LR 36:470 (March 2010).

AUTHORITY NOTE: Promulgated in accordance with Act 298 of the 2007 Regular Session of the Louisiana Legislature.