2014 Louisiana Laws
Revised Statutes
TITLE 33 - Municipalities and Parishes
RS 33:7634 - Tax rebates, tax credits, or other incentives for donations
§7634. Tax rebates, tax credits, or other incentives for donations
A. Tax rebates, tax credits, or other incentives shall be allowed for qualified donations made to a local governmental entity for a qualified project subject to the following limitations:
(1) A participating donor shall submit to the chief financial officer designated by the local governmental entity a written report reasonably documenting the cash, equipment, goods, or services donated pursuant to a cooperative endeavor agreement for a qualified project, including supporting documentation as may be deemed necessary by that officer. Prior to the approval of tax rebates, tax credits, or other incentives for a qualified donation under the cooperative endeavor agreement, the officer shall verify the value of the qualified donation.
(2) The local governmental entity may approve a tax rebate, tax credit, or other incentive to the donor for the verified qualified donation in an amount equal to one-half of the value of the cash, equipment, goods, or services donated, or five hundred thousand dollars, whichever is less. The total amount of the tax rebates, tax credits, or other incentives which may be received by any donor in any fiscal year shall not exceed five hundred thousand dollars.
B.(1) The term "qualified donation" shall mean a donation made to a participating local governmental entity to assist in the construction, operation, use, or maintenance of a qualified project. The donation may be in the form of cash or the donation of equipment, goods, or services.
(2) The term "qualified project" shall mean a project for the construction or major improvement or repair of infrastructure by a participating local governmental entity.
C. The local governmental entity shall promulgate such rules and regulations as may be deemed necessary to carry out the purposes of this Chapter.
D. The provisions of this Chapter shall apply to verified qualified donations made after July 1, 2014.
Acts 2014, No. 746, §1, eff. June 19, 2014.
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