1. A. Purpose

   1. 1. The primary purpose of this Subchapter is to encourage the use of state port facilities in Louisiana. The utilization of public port facilities for the import and export of cargo to or from distribution, manufacturing, fabrication, assembly, processing, or warehousing sites in Louisiana is essential to Louisiana’s economic health and the ability of business and industry associated with the maritime industry to compete cost effectively on a regional, national and global scale.

2. B. Definitions

   1. Applicantthe international business entity submitting application for certification of tax credits.
   2. Application—information provided by the applicant that is required to participate in the import-export tax credit program that has been verified by an independent certified public accountant or other third party approved by Louisiana Economic Development, which shall be filed annually for the prior calendar year’s qualified cargo.
   3. Application Datethe date an application for preliminary certification of a project is received by LED.
   4. Baseline Tonnageany breakbulk or containerized machinery, equipment, materials, products, or commodities owned by an international business entity receiving the credit, which are imported or exported to or from a Louisiana facility and which are so moved by way of an oceangoing vessel berthed at a Louisiana public port facility during the 2013 calendar year.
   5. Breakbulk Cargomachinery, equipment, materials, products, or commodities, including but not limited to palletized or unpalletized bagged, packaged, wrapped, drummed, baled, or crated goods and commodities, or offshore drilling platforms and equipment, and shall not include bulk cargo.
   6. Bulk Cargoloose, unpackaged, non-containerized cargo or any liquid or dry commodities that are handled in bulk.
   7. Certified Tonnage—the number of tons of qualified cargo in a calendar year minus the number of tons of baseline tonnage.
   8. COAthe commissioner of administration of the state of Louisiana.
   9. Containerized Cargoany machinery, equipment, materials, products, or commodities shipped in containers which are rigid, sealed, reusable metal boxes in which merchandise is shipped by vessel, truck, or rail.
   10. DOTDthe Louisiana Department of Transportation and Development.
   11. Export Cargoany breakbulk or containerized cargo brought from the state of Louisiana to a foreign country, excluding bulk cargo.
   12. Import Cargoany breakbulk or containerized cargo brought to the state of Louisiana from a foreign country, excluding bulk cargo.
   13. International Business Entitya taxpayer corporation, partnership, limited liability company, or other commercial entity, all or a portion of whose activities involve the import or export of breakbulk or containerized cargo to or from a Louisiana facility.
   14. JLCBthe Joint Legislative Committee on the Budget.
   15. LEDthe Louisiana Department of Economic Development.
   16. LDRthe Louisiana Department of Revenue.
   17. Louisiana Expendituresshipping costs incurred in the transporting, warehousing, storing, and blast freezing of qualified cargo between the Louisiana facility and the cargo’s point of entry to or exit from the state.
   18. Louisiana Facilitymanufacturing, fabrication, assembly, distribution, processing, or warehousing facilities located within Louisiana.
   19. Oceangoing Vesselany vessel, ship, barge, or watercraft that floats, including offshore oil exploration platforms.
   20. Public Portany deep-water port commission or port, harbor and terminal district as defined in article VI, section 44 of the Constitution of Louisiana, and any other port, harbor, and terminal district established under title 34 of the Louisiana Revised Statutes of 1950.
   21. Qualified Cargoany breakbulk or containerized machinery, equipment, materials, products, or commodities owned by an international business entity, that are imported or exported to or from a Louisiana facility by means of an oceangoing vessel berthed at a public port facility.
   22. Significant Positive Economic Benefitnet positive tax revenue that shall be determined by taking into account direct, indirect, and induced impacts of the project based on a standard economic impact methodology utilized by the COA, and the value of the credit, and any other state tax and financial incentives that are used by LED to secure the project or activity.
   23. Statethe state of Louisiana.
   24. SBCthe Louisiana State Bond Commission.
   25. Tona net ton of 2000 pounds and in the case of containerized cargo it shall exclude the weight of the container.
   26. Verified Statement—information required by Section 3923.D, verified by the applicant’s chief executive officer or most senior officer responsible for shipping and distribution.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6036.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Economic Development, Office of the Secretary, LR 40:2238 (November 2014).