La. Admin. Code tit. 25 § I-1301
Amendment-any modification to the project, as described in an approved application including, but not limited to, changes in applicant, scope of the project, timeline for completion, changes in financing, the rehabilitation activities or end use.
Annual Credit Reservation Cap-the maximum aggregate total of tax credits that may be reserved in any one calendar year is $125 million. The reservation cap shall apply to projects with Part 2 applications received by the Department of Culture, Recreation and Tourism on or after January 1, 2021.
Applicant-the owner or qualified lessee of a historic building.
Application-the three-part state commercial tax credit for historic buildings application, which consists of: part 1-certification of contributing status; part 2-proposed work description; and, part 3-request for project certification.
Credit Amount-the dollar amount of credit earned.
Division-the Louisiana Division of Historic Preservation.
Eligible Costs and Expenses-the qualified rehabilitation expenditures (QREs) as defined in Section 47c(2)(A) of the Internal Revenue Code of 1986, as amended.
Project-the activities to be undertaken and costs identified as part of an application submitted for a historic preservation tax credit. A project may include more than one building, such as an industrial or agricultural complex, provided there is historical evidence that the buildings functioned together to serve an overall purpose, and all are at least 50 years old unless also listed individually in the National Register of Historic Places.
Qualified Rehabilitation Expenditures (QREs)-repealed.
Rehabilitation-the process of returning a property to a state of utility, through repair or alteration, which makes possible an efficient contemporary use while preserving those aspects of the building, its site, and environment that are significant to its historic, architectural, and cultural values, as determined by the division.
SHPO-State Historic Preservation Office, comprised of the Divisions of Archaeology and Historic Preservation, within the Department of Culture, Recreation and Tourism.
La. Admin. Code tit. 25, § I-1301