LAC 13:I.3905. Certification of Sufficient Revenue

A. After receipt of the LED preliminary certification and economic impact analysis, the COA shall review the project and determine whether a certification of sufficient revenue may be issued. 1. COA may issue a certification if he finds that there will be sufficient revenue received by the state to offset the effect to the state of the tax credits as a result of either: a. increased port activity because of grant; or b. otherwise. 2. The COA’s certification shall state the amount of tax credits for which sufficient revenues are determined. 3. The COA’s certification shall be submitted to the JLCB and the SBC for approval. 4. If the COA’s certification is approved by both the JLCB and the SBC, it shall be delivered to the Secretary of LED 5. The certification of the COA shall be valid for a period of 30 months after it is approved by the JLCB and SBC, unless an extension is requested as provided in §3903.F.