LAC 13:I.4701. General

A. The competitive projects tax exemption program provides an ad valorem property tax exemption for the facility of an eligible business. The secretary of the department economic development (“LED”) or a local governmental entity listed in R.S. 47:4353 may invite targeted non-manufacturing businesses who meet the eligibility requirements to participate in the program. B. Only property on which ad valorem taxes have not previously been paid will be eligible for the exemption. The applicant shall provide documentation to LED that property taxes have not previously been paid on the property for which it seeks the exemption. C. Definitions Facility—the land, buildings, infrastructure, and equipment necessary or beneficial to the project, and any additions, expansion and improvements thereto. Program—the competitive projects tax exemption program. Secretary—secretary of the Louisiana Department of Economic Development.