2009 Louisiana Laws TITLE 47 Revenue and taxation :: RS 47:6020.3 False or fraudulent information in making application, claim for credit, or other instrument; penalties

§6020.3.  False or fraudulent information in making application, claim for credit, or other instrument; penalties

A.  Any person making an application, claim for an angel investor tax credit, or any report, return, statement, or other instrument or providing any other information pursuant to the provisions of the Angel Investor Tax Credit Program who willfully makes a false or fraudulent application, claim, report, return, statement, invoice, or other instrument or who willfully provides any false or fraudulent information, any person who willfully aids or abets another in making such false or fraudulent application, claim, report, return, statement, invoice, or other instrument, or any person who willfully aids or abets another in providing any false or fraudulent information, shall be guilty, upon conviction, of a felony and shall be punished by the imposition of a fine of not less than one thousand dollars and not more than fifty thousand dollars or imprisoned for not less than two years and not more than five years, or both.

B.  Any person convicted of a violation of this Section shall be liable for the repayment of all credits which were granted to that person.  Interest shall be due on such repayments at the rate of fifteen percent per annum.

Acts 2005, No. 400, §1.

NOTE:  Acts 2005, No. 400, provides that the provisions of the Act "shall become effective for all income tax and franchise tax years beginning on or after January 1, 2005.  However, this Act shall become null and void on December 31, 2009."