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La. Rev. Stat. § 47:8 Taxation of state banking corporations and shareholders
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§8. Taxation of state banking corporations and shareholders Banking corporations organized under the laws of Louisiana and other corporations whose income is derived solely from banking corporations and from securities exempt from taxation by the State of Louisiana and shareholde…
La. Rev. Stat. § 47:8001 Short title
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§8001. Short title This Chapter may be referred to as the "Tax Increment Development Act". Acts 1988, No. 996, §1.
La. Rev. Stat. § 47:8002 Findings, declaration of necessity and purpose
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§8002. Findings, declaration of necessity and purpose It is hereby found and declared that: (1) It is the policy of the state to promote the sound growth and development of parishes and municipalities through the use of tax increment revenues to pay for or finance the cost, or a …
La. Rev. Stat. § 47:8003 Definitions
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§8003. Definitions The following terms wherever used or referred to in this Chapter shall have the following meanings unless a different meaning is clearly indicated in the context: (1) "Bonds and notes" means bonds, including refunding bonds, notes, interim certificates, certifi…
La. Rev. Stat. § 47:8004 Creation of corporation; public hearing; adoption of resolution; certificate
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§8004. Creation of corporation; public hearing; adoption of resolution; certificate A. In each parish of the state and in each municipality of the state there is hereby created "The Tax Increment Development Corporation", consisting of a public body corporate and politic and inst…
La. Rev. Stat. § 47:8005 Board of directors; appointment; tenure; compensation
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§8005. Board of directors; appointment; tenure; compensation A. The board of directors of a corporation shall consist of not less than five nor more than nine members appointed and qualified as follows: (1) The executive officer of such parish or municipality or his designee; one…
La. Rev. Stat. § 47:8006 Organization of corporation; employees; meetings; personal liability of directors
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§8006. Organization of corporation; employees; meetings; personal liability of directors A. Except for the selection of the initial chairman, the directors of a corporation shall initially and annually thereafter select from among themselves a chairman, vice chairman, and such ot…
La. Rev. Stat. § 47:8007 Removal of directors; right to counsel; record of proceedings
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§8007. Removal of directors; right to counsel; record of proceedings With the consent of the governing body, the executive officer may remove a non-ex officio director for inefficiency, neglect of duty or misconduct in office, but only after the director has been given a copy of …
La. Rev. Stat. § 47:8008 Conflict of interest; disclosure of interests; penalty
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§8008. Conflict of interest; disclosure of interests; penalty A. No director or officer of a corporation shall borrow money or receive anything of value from any contractor doing business with such corporation. No director, officer, or employee of a corporation shall have any int…
La. Rev. Stat. § 47:8009 Powers of the corporations
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§8009. Powers of the corporations A corporation shall have the following powers: (1) To sue and be sued. (2) To have a seal and alter the same at pleasure. (3) To adopt, amend, or repeal bylaws for its organization and internal management and to make rules and regulations with re…
La. Rev. Stat. § 47:801 Definitions
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§801. Definitions As used in this Part the following words, terms and phrases have the meaning ascribed to them in this Section, except where the context indicates a different meaning: (1) "Bulk", as used in connection with the sale and handling of special fuels, means a quantity…
La. Rev. Stat. § 47:8010 Increment revenues
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§8010. Increment revenues A. For purposes of this Chapter, the increment revenues of each taxing district shall be an amount equal to the increment in the income proceeds, revenues, and funds of such taxing district derived from or held in connection with the undertaking and carr…
La. Rev. Stat. § 47:8011 Tax increment trust fund; mandatory contributions
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§8011. Tax increment trust fund; mandatory contributions A.(1) There shall be established by and for the benefit of each tax increment development corporation created under R.S. 47:8004 a tax increment trust fund. Funds allocated to and deposited into this fund shall be made avai…
La. Rev. Stat. § 47:8012 Development management
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§8012. Development management A. In order to carry out the purposes of this Chapter, and to utilize private enterprise to a maximum degree consistent with the public interest, a corporation may by a two-thirds vote of the board of directors enter into a contract with a private de…
La. Rev. Stat. § 47:8013 Tax increment development plan; preparation; adoption; filing; modification
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§8013. Tax increment development plan; preparation; adoption; filing; modification A. After the governing body has, upon advice thereon by the planning body, by resolution designated an area of the parish or municipality as the site for development under the provisions of this Ch…
La. Rev. Stat. § 47:8014 Subsidiary corporations; creation; purposes; powers; compensation of members
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§8014. Subsidiary corporations; creation; purposes; powers; compensation of members A. Subject to the provisions of R.S. 47:8026, a corporation may exercise its powers and functions through one or more subsidiary corporations. The corporation by resolution duly adopted by two-thi…
La. Rev. Stat. § 47:8015 Disposition of property in tax increment development area
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§8015. Disposition of property in tax increment development area A. Subject to the provisions of R.S. 47:8014(B)(1), real property acquired by a corporation pursuant to this Chapter and in accordance with the tax increment development plan shall be disposed of, as provided in thi…
La. Rev. Stat. § 47:8016 Development by corporations; surplus profits
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§8016. Development by corporations; surplus profits A. Notwithstanding R.S. 47:8025, but consistent therewith, a corporation may, itself, or through the use of one or more subsidiary corporations, or through partnerships or joint ventures, as permitted in R.S. 47:8009, develop, c…
La. Rev. Stat. § 47:8017 Bonds of the corporations
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§8017. Bonds of the corporations A.(1) As used in this Section, the word "bonds" shall mean and include bonds, notes, certificates of indebtedness, or other evidences of indebtedness for the repayment of borrowed money. A corporation is hereby authorized to issue its negotiable b…
La. Rev. Stat. § 47:8018 Security for bonds or notes
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§8018. Security for bonds or notes A. The principal of and interest on any bonds or notes issued by a corporation may be secured as provided in R.S. 47:8017(B) and may be secured by a mortgage or other instrument covering all or any part of any lands or all or any part of a devel…
La. Rev. Stat. § 47:8019 Bonds and notes as legal investment
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§8019. Bonds and notes as legal investment Any parish or any municipality, all other parishes or municipalities, the state, all banks, trust companies, bankers, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and…
La. Rev. Stat. § 47:802 Imposition of tax
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§802. Imposition of tax A. There is hereby levied a tax of sixteen cents per gallon on all special fuels, as defined in R.S. 47:801, when sold, used, or consumed in the state of Louisiana for the operation of motor vehicles, licensed or required to be licensed for highway use, to…
La. Rev. Stat. § 47:802.1 Refunds; undyed diesel fuel used for other than highway purposes
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§802.1. Refunds; undyed diesel fuel used for other than highway purposes A. Prior to purchasing undyed special fuel for nontaxable purposes, a user must meet the following requirements and conditions in order to file a claim for refund or credit. (1) The user must make applicatio…
La. Rev. Stat. § 47:802.2 Refunds; licensed vehicles used by commercial fishermen
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§802.2. Refunds; licensed vehicles used by commercial fishermen A. The secretary of the Department of Revenue shall make refunds of special fuels taxes on undyed tax-paid special fuels used in any vehicle utilized by a licensed commercial fisherman in the administration of busine…
La. Rev. Stat. § 47:802.3 Users of liquefied petroleum gas or compressed gas annual fuel tax; certain vehicles excepted
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§802.3. Users of liquefied petroleum gas or compressed gas annual fuel tax; certain vehicles excepted A. The owner or operator of a motor vehicle having a gross weight of ten thousand pounds or less which is propelled by an internal combustion engine or motor capable of using liq…
La. Rev. Stat. § 47:802.4 Louisiana Truck Center, authorization
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§802.4. Louisiana Truck Center, authorization The secretary of the Department of Revenue shall provide the personnel and equipment required to fully implement the provisions of R.S. 32:390.23 as it relates to taxes and fees assessed and collected by this department. Acts 1997, No…
La. Rev. Stat. § 47:8020 Corporation funds; audit; investment
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§8020. Corporation funds; audit; investment A. All monies of a corporation from whatever source derived shall be paid to the treasurer of the corporation and shall be deposited forthwith in a bank or banks in the state designated by the corporation. The monies in such account or …
La. Rev. Stat. § 47:8021 Property exempt from taxes and from levy and sale by virtue of an execution
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§8021. Property exempt from taxes and from levy and sale by virtue of an execution A. All property of a corporation, including funds owned or held by it for the purposes of this Chapter, shall be exempt from levy and sale by virtue of an execution, and no execution or other judic…
La. Rev. Stat. § 47:8022 Assistance by state and local agencies
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§8022. Assistance by state and local agencies A. In order most effectively to carry out its corporate purposes, a corporation shall assist and cooperate with state and local agencies authorized or empowered to review the affairs and accounts of such corporation. B. All state and …
La. Rev. Stat. § 47:8023 Title of purchase
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§8023. Title of purchase Any instrument executed by a corporation, purporting to convey any right, title or interest in any property under this Chapter shall be conclusively presumed to have been executed in compliance with the provisions of this Chapter insofar as title or other…
La. Rev. Stat. § 47:8024 Annual report
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§8024. Annual report A corporation shall file, with the governing body, on or before March thirty-first of each year, a report of its activities for the preceding calendar year, which report shall include a complete financial statement setting forth its assets, liabilities, recei…
La. Rev. Stat. § 47:8025 Encouragement of private enterprise
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§8025. Encouragement of private enterprise Consistent with the purposes of this Chapter and the needs of the parish or municipality, a corporation shall encourage the full participation of private enterprise in the development and construction of residential, commercial, industri…
La. Rev. Stat. § 47:8026 Indemnity of directors, officers, agents and employees
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§8026. Indemnity of directors, officers, agents and employees A corporation shall indemnify and hold harmless any director, officer, agent, or employee against any liability or loss arising from the carrying out of the powers set forth in this Chapter other than liability of loss…
La. Rev. Stat. § 47:8027 Authority of parishes, municipalities and subdivisions thereof to appropriate and dedicate funds to a tax increment trust fund
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§8027. Authority of parishes, municipalities and subdivisions thereof to appropriate and dedicate funds to a tax increment trust fund Notwithstanding any other provision of general or special law, the purposes for which a parish or municipality, or any agency or subdivision of ei…
La. Rev. Stat. § 47:803 Collection and payment of tax
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§803. Collection and payment of tax A.(1) The tax levied hereunder shall be collected or paid by suppliers on all special fuels sold or delivered by them, except the following: (a) Those fuels required to be indelibly dyed and chemically marked in accordance with regulations issu…
La. Rev. Stat. § 47:803.1 Cooperative agreements between states for collection and payment of taxes
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§803.1. Cooperative agreements between states for collection and payment of taxes A. In lieu of the requirements of this Part with respect to licensing, bonding, reporting, and auditing, the secretary may, when in the interest of the state and its residents, enter into the Intern…
La. Rev. Stat. § 47:803.2 Dyed special fuel; taxable use by fire trucks
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§803.2. Dyed special fuel; taxable use by fire trucks A. Notwithstanding any other law to the contrary, a fire department/district may purchase dyed fuel for use in the operation of fire trucks as defined in R.S. 47:801(5) when all of the following apply: (1) The fire department/…
La. Rev. Stat. § 47:804 Separate storage tanks for taxable special fuels and for tax-free storage
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§804. Separate storage tanks for taxable special fuels and for tax-free storage A. All users, dealers, and suppliers of special fuels who maintain their own storage tanks in this state except users of liquefied petroleum gas or compressed natural gas as fuel, are required to have…
La. Rev. Stat. § 47:805 Bulk sales
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§805. Bulk sales Except in the case of tax-paid deliveries into the fuel supply tanks of motor vehicles, it shall be unlawful to make bulk sales of special fuels to any user or dealer who is not licensed as such, when the supplier knows, or reasonably should know the purchaser is…
La. Rev. Stat. § 47:806 Records required; invoices; false records a violation
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§806. Records required; invoices; false records a violation A.(1) Every supplier, dealer, or user licensed, or required by law to secure a license, to sell, deliver, or to use special fuels, shall keep a complete record of all special fuels purchased or received and sold, deliver…
La. Rev. Stat. § 47:806.1 Records and reports required by installers of liquefied petroleum gas and compressed natural gas carburetion equipment
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§806.1. Records and reports required by installers of liquefied petroleum gas and compressed natural gas carburetion equipment Any person who installs or alters liquefied petroleum gas or compressed natural gas carburetion equipment shall file with the secretary of the Department…
La. Rev. Stat. § 47:807 Licenses and bond for suppliers, dealers, and users
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§807. Licenses and bond for suppliers, dealers, and users A. No person shall commence operations as a supplier, dealer, or user without first procuring a license for that purpose from the secretary, which license shall be issued without charge and remain in effect until revoked a…
La. Rev. Stat. § 47:807.1 Application, payment of tax, decals; penalties
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§807.1. Application, payment of tax, decals; penalties A. Any person who wishes to operate, upon the highways of this state, a motor vehicle which uses or is capable of using liquefied petroleum gas or compressed natural gas as motor fuel shall make application, on or before July…
La. Rev. Stat. § 47:808 Reports; deductions in computing tax; revocation of license; flat rate accounts
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§808. Reports; deductions in computing tax; revocation of license; flat rate accounts A.(1) Every supplier shall, on or before the twentieth day of each calendar month, file with the secretary, on forms prescribed by him, a report accounting for the special fuels handled during t…
La. Rev. Stat. § 47:809 Power to stop and investigate vehicles; assessment and collection
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§809. Power to stop and investigate vehicles; assessment and collection A. In order to enforce the provisions of this Part, the secretary or his authorized representative or any weights and standards police officer is empowered to stop any motor vehicle which appears to be operat…
La. Rev. Stat. § 47:810 Prima facie presumptions
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§810. Prima facie presumptions A. Any supplier, dealer, or user who shall fail to keep the records, issue the invoices, or file the reports required by this Part, shall be prima facie presumed to have sold, delivered, or used for taxable purposes all special fuels shown by a duly…
La. Rev. Stat. § 47:811 Export of tax paid special fuels; tax refunds or credit; interstate users
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§811. Export of tax paid special fuels; tax refunds or credit; interstate users A. An interstate user of special fuels who is a bonded user of special fuels in the state of Louisiana may receive a tax refund or tax credit on that amount of tax paid on special fuels purchased in t…
La. Rev. Stat. § 47:812 Violations; cargo tank to carburetor connection; operation without speedometer or
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§812. Violations; cargo tank to carburetor connection; operation without speedometer or hub meter; operation without name and address on trucks; invoice A. It shall be a violation of the Special Fuels Tax Law for a motor vehicle to operate within the state of Louisiana: (1) When …
La. Rev. Stat. § 47:813 Violations declared misdemeanors
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§813. Violations declared misdemeanors Any person who shall violate any of the provisions of this Part shall be guilty of a misdemeanor, and, upon conviction, be fined in an amount not exceeding one thousand dollars ($1,000.00), or imprisonment not to exceed two (2) years, or bot…
La. Rev. Stat. § 47:814 Administration; rules and regulations; costs of administration; disposition of monies collected
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§814. Administration; rules and regulations; costs of administration; disposition of monies collected A. The administration of this Part shall be by the secretary of the Department of Revenue who shall have authority to adopt and enforce rules and regulations not inconsistent wit…
