§582.7.  Incentives

The governing authority and the Department of Revenue shall refund or cause to have refunded, in accordance with rules and regulations adopted by the governing authority and rules and regulations adopted by the Department of Revenue, to eligible persons those local and state sales and use taxes collected as a consequence of the purchase of materials used in the restoration, renovation, or rehabilitation of an existing structure or the construction of a new house and associated improvements in an approved housing development area provided:

(1)  The person restoring, renovating, or rehabilitating the existing structure or building or causing the building of the new home gives preference and priority to Louisiana suppliers, contractors, and labor except where not reasonably possible to do so without added expense, substantial inconvenience, or sacrifice in operational efficiency.

(2)  The person restoring, renovating, or rehabilitating the existing structure or building or causing the building of the new home so certifies in writing that the home is generally affordable for purchase by low to moderate-income families and individuals.

(3)  The person restoring, renovating, or rehabilitating the existing structure or building or causing the building of the new home presents documents sufficient to prove the amount of sales and use taxes paid and eligible for refund upon the sale of the new house.

(4)  The person restoring, renovating, or rehabilitating the existing structure or building or causing the building of the new home certifies in writing that he has complied with applicable criteria, rules, regulations, and procedure established by the department and the governing authority.

(5)  The person restoring, renovating, or rehabilitating the existing structure or building or causing the building of the new home completes and submits forms prescribed by the Department of Revenue and the governing authority for the refund of sales and use taxes.

Acts 1984, No. 292, §1; Acts 1997, No. 658, §2.