Louisiana Revised Statutes 51:2452 – Intent
Terms Used In Louisiana Revised Statutes 51:2452
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Employer: shall mean a legal person who executes a contract with the department pursuant to the provisions of this Chapter and who offers, or will offer within ninety days of the effective date of qualifying for the incentive rebates pursuant to the provisions of this Chapter, a basic health benefits plan to the individuals it employs in new direct jobs in this state which shall be determined by the Department of Economic Development to be in compliance with federally mandated healthcare requirements or, if no federally mandated healthcare requirements exist, shall be determined to have a value of at least one dollar and twenty-five cents per hour. See Louisiana Revised Statutes 51:2453
A. It is the intent of the Louisiana Legislature that the quality jobs benefits provided for in this Chapter in contracts for which an application is filed with the department after May 1, 2002, should be used primarily as an inducement for businesses to locate or expand existing operations in Louisiana in accordance with the Department of Economic Development’s focus on Louisiana’s traditional and seed clusters: Advanced Materials; Agriculture, Forest and Food Technology; Durable Goods (Marine, Automotive, Aviation); Entertainment; Information Technology; Biotechnology, Biomedical, and Medical Industries serving rural hospitals; Logistics and Transportation; Oil and Gas and Energy; Headquarters; and Petrochemical and Environmental Technology. A business operation should be considered for quality jobs benefits only if the business meets the provisions of La. Rev. Stat. 51:2453(2). It is the further intent of the Louisiana Legislature that the following should apply to quality jobs benefits provided both before and after that date:
(1) The state of Louisiana provide appropriate incentives to support employers who will make significant contributions to the development of the economy of the state of Louisiana.
(2) The amount of such incentives provided or made available to employers shall be directly related to the new direct jobs created as a result of the employer locating or expanding existing operations in the state of Louisiana.
(3) The Louisiana Department of Economic Development, the Louisiana Department of Revenue, and the Louisiana Workforce Commission shall implement the provisions of this Chapter and exercise all powers as authorized in this Chapter. The exercise of powers conferred by this Chapter shall be deemed and held to be the performance of essential public purposes.
B. Nothing herein shall be construed to constitute a guarantee or assumption by the state of Louisiana of any debt of any individual, company, corporation, or association or to authorize the credit of the state of Louisiana to be given, pledged, or loaned to any individual, company, corporation, or association.
C. No agency shall incur monetary or personnel costs paid with federal funds for compliance with the provisions of this Chapter when such use of the funds is prohibited by federal law.
Acts 1995, No. 1238, §1, eff. July 1, 1995; Acts 1996, 1st Ex. Sess., No. 39, §1, eff. May 7, 1996; Acts 2000, No. 46, §2, eff. June 28, 2000; Acts 2002, 1st Ex. Sess., No. 153, §1, eff. May 1, 2002; Acts 2003, No. 47, §1, eff. May 22, 2003; Acts 2005, No. 326, §1; Acts 2008, No. 743, §7, eff. July 1, 2008; Acts 2009, No. 438, §11(A); Acts 2017, No. 386, §3, eff. June 23, 2017.