The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Angela L. De Jean.
DIGEST
Proposed law provides that the legislature hereby recognizes the importance of tourism as an
economic driver, generating tax revenue and creating jobs in the state, and hereby provides an
incentive to incrementally increase the number of visitors to the state.
Proposed law provides that the secretary of the DED is authorized to enter into contracts with
businesses agreeing to undertake activities to incrementally increase the number of visitors to the
state by at least 100,000 per year.
Proposed law provides that the contract shall provide an incentive to the business based upon the
actual number of the incremental increase in visitors, as certified by the secretary of the DED.
Proposed law provides that the incentive shall be paid in the form of a refundable tax credit
against corporate income and corporate franchise taxes. Any excess of allowable credit provided
by proposed law over the tax liabilities against which such credit may be applied shall constitute
an overpayment as defined in present law, and the secretary of the DOR shall make a refund of
such overpayment from the current collections of taxes imposed under proposed law.
Proposed law provides that the DED may promulgate rules in accordance with the APA to
establish business eligibility and project qualifications for this program, and any other matter
necessary to carry out the purposes of proposed law.
Effective August 1, 2013.
(Adds R.S. 47:650)