LAC 13:I.2701. Purpose and Application

A. The purpose of this Chapter is to implement the Technology Commercialization Credit and Jobs Program as established by R.S. 51:2351 et seq. B. This Chapter shall be administered to achieve the following purposes: 1. to induce companies purchasing the rights to commercialize technology produced at a Louisiana university to locate and grow their businesses in Louisiana; 2. to expand the economy of the state by enlarging its base of technology and research-based businesses; 3. to enlarge the number of quality jobs available to an educated workforce to retain the presence of young people educated in Louisiana colleges and universities; and 4. to attract and retain the finest research faculty to Louisiana universities. C. This Chapter shall apply to any person: 1. seeking to become qualified to claim a credit; or 2. claiming a credit. D. Qualifying individuals or businesses that invest in the commercialization of Louisiana technology in Louisiana may earn, apply for, and be granted a refundable tax credit on any income or corporation franchise tax liability and earn a refundable tax credit based on new jobs created. Qualifying research centers that develop Louisiana technology to be commercialized may earn apply for, and be granted a refundable tax credit based on new jobs created.