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2018 Louisiana Laws
Revised Statutes
TITLE 47 - Revenue and Taxation
RS 47:648.1 - Purpose
Universal Citation: LA Rev Stat § 47:648.1 (2018)
PART I-C. NEW DISCOVERY WELLS
§648.1. Purpose
It is the public policy of the state to promote economic growth and to revitalize and stimulate an economic sector which is in decline due to world markets and trends. The legislature hereby acts to encourage new discovery wells in the oil and gas sector, a mainstay of Louisiana's historic economic base, which has been in decline for the last decade.
Acts 1994, No. 2, §2, eff. June 1, 1994.
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