Louisiana Revised Statutes 24:581 – A.(1) The auditor shall ensure that the website includes an incentives database that is electronically searchable by the public.
Terms Used In Louisiana Revised Statutes 24:581
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
§581. Incentives database
A.(1) The auditor shall ensure that the website includes an incentives database that is electronically searchable by the public.
(2) The auditor shall require any state agency that administers an incentive expenditure program to report the information stated in this Section for each incentive expenditure.
(3) The information shall be provided no later than six months after the effective date of the incentive expenditures and shall be updated as needed no less than every three months thereafter. Each state agency that administers such a program shall provide sufficient information to satisfy the requirements of this Subsection.
B. The auditor shall ensure that the incentives database allows the public to do the following:
(1) Search and aggregate incentives by individual recipients and multiple budget units and programs.
(2) Search and aggregate payments to recipients and governmental entities, including the total amount of state payments issued to individual recipients.
C. For the incentives database, the administering state agency shall report in each fiscal year the following information:
(1) The name of the recipient of the incentive expenditure.
(2) The corporate domicile of the recipient.
(3) The estimated net new jobs and payroll, if available.
(4) The estimated total capital investment or estimated total Louisiana expenditures, whichever is relevant based upon the incentive expenditure program being reported on.
(5) The annual and total estimated value of the benefits to the recipient.
(6) The official forecast of the incentive expenditure forecast adopted by the Revenue Estimating Conference.
(7) The actual total capital investment or actual total Louisiana expenditures, whichever is relevant based upon the incentive expenditure program, if the information is available.
(8) The annual and total actual value of the benefits to the recipient, if available.
D. The auditor shall ensure that the incentives database does not include information that is protected.
Acts 2023, No. 446, §1, see Act.