§935.1. Unified economic development budget report
A.(1) Louisiana Economic Development shall issue an annual unified economic
development budget report which shall be submitted to the governor, the president of the
Senate, the speaker of the House of Representatives, every member of the legislature
electronically, and the David R. Poynter Legislative Research Library, as provided in R.S.
24:772.
(2) Upon request by Louisiana Economic Development, the Department of Revenue
and the Louisiana Workforce Commission shall provide any information in their possession
needed by Louisiana Economic Development for preparation of the report. Louisiana
Economic Development shall not disclose any confidential data provided, and shall not
include any confidential information in the report in an individually identifiable form.
B.(1) The report in each year shall include at least twenty-five percent of the
economic development programs within Louisiana Economic Development. Each economic
development program within the department shall be included in the report at least once
every four years. New economic development programs created within the department shall
be included in the report not later than two years after the year of creation.
(2) The report shall include, as applicable, the following:
(a) A list of all state economic development programs within Louisiana Economic
Development, including program title and statutory citation.
(b) A description of the economic development programs covered by the report,
including the purposes of the programs, qualifying businesses, type of incentive, and how
administered.
(c) For the immediately prior fiscal year, if it is the initial report on a program, and
for all fiscal years since the last report on the program, if it is a subsequent report, based upon
actual data to the extent available and upon estimates to the extent actual data is not
available:
(i) The amount of incentives issued.
(ii) The administrative cost of the program.
(iii) The number of permanent, new and retained, full-time and part-time jobs,
amount of associated payroll, amount of capital investment, and any other economic benefit
associated with utilization of the program.
(iv) The economic impact of the program, including impact on state tax revenues.
(v) The overall impact of the program.
(d) For the current and next fiscal year, estimates of all of the following:
(i) The amount of incentives to be issued.
(ii) The administrative cost of the program.
(iii) The number of permanent, new and retained, full-time and part-time jobs,
amount of associated payroll, amount of capital investment, and any other economic benefit
associated with utilization of the program.
(iv) The economic impact of the program, including impact on state tax revenues.
(v) The overall impact of the program.
C, D. Repealed by Acts 2013, No. 387, §2.
E.(1)(a) The legislative auditor shall conduct an annual performance audit designed
to evaluate the management controls, accuracy, and reliability of the reported information
on at least three economic development programs as defined in this Section. The economic
development programs that are to be audited shall be selected by the legislative auditor.
(b)(i) The auditor may require the division of administration and Louisiana
Economic Development to provide such data, information, and reports that the auditor
determines is reasonably necessary. In addition, and notwithstanding any other law to the
contrary, the Department of Revenue and the Louisiana Workforce Commission shall
provide to the auditor any data, information, or reports relative to the programs being audited
that the auditor may reasonably require, and only where such programs require that such data
be reported, provided that such data, information, or report shall be subject to the provisions
of R.S. 47:1508 and may only be used in a manner that shall prevent the identification of a
particular employer.
(ii) If such departments are unable to provide to the auditor data, information, or
reports the auditor reasonably requires, because such data, information, or report was not
provided by the employer and should have been provided to such departments either by law
or contract, then that department to which the data, information, or report should have been
provided may request the employer to provide such data, information, or report.
(2) The auditor shall include in the audit a conclusion as to the material correctness
and sufficiency of the reports, data and information concerning the programs which are used
in the unified economic development budget report and as to the material correctness of the
report concerning the programs audited.
(3) In addition to the Legislative Audit Advisory Committee, the performance audit
shall be submitted to the Economic Estimating Conference, every member of the legislature,
and the legislative fiscal office.
F. For the purposes of this Section, the following words and phrases shall have the
following meanings:
(1)(a) "Economic development program" means any state program which directly
or indirectly confers fiscal benefits on employers located in the state for the purpose of
retaining and creating jobs and growing the state's economy. Such programs may include
grants, loan guarantees, tax exemptions, exclusions, credits, or rebates, but only to the extent
that such benefits are used by an identifiable group of employers in the same or a similar
business.
(b) The ten-year property tax exemption and the inventory tax credit shall not be
considered economic development programs.
(2) "Employer" means the entity participating in the economic development program.
(3) "New permanent full-time job" means a job filled by an employee not previously
on the payroll of the employer who is participating in the economic development program,
or previously on the payroll of such employer's parent, subsidiary, or affiliate, who works a
minimum of thirty-five hours per week and who is employed a minimum of forty weeks a
year as verified by an employer's W-2 forms.
(4) "New permanent part-time job" means a job filled by an employee not previously
on the payroll of the employer who is participating in the economic development program,
or previously on the payroll of such employer's parent, subsidiary, or affiliate, who works
less than thirty-five hours per week or who is employed less than forty weeks a year as
verified by an employer's W-2 forms.
Acts 2002, 1st Ex. Sess., No. 150, §1, eff. April 24, 2002; Acts 2008, No. 743, §7,
eff. July 1, 2008; Acts 2009, No. 438, §11(A); Acts 2013, No. 387, §§1, 2.