Terms Used In Louisiana Revised Statutes 33:4545.24

  • Authority: shall mean the political subdivision and body politic and corporate created, organized and existing pursuant to the provisions of this Chapter, or if the Authority shall be abolished, the board, body, commission, department or officer succeeding to the principal functions thereof or to whom the powers given by this chapter may be given by law. See Louisiana Revised Statutes 33:4545.3
  • Project: shall mean any system or facilities proposed, existing or under construction within the state for the generation, transmission, transformation or supply of electric power and energy by any means whatsoever, or for the development, production, manufacture, procurement, handling, transportation, storage, fabrication, enrichment, processing or reprocessing of fuel of any kind or any facility or rights with respect to the supply of water, any interest therein, securities issued in connection with the financing thereof and any right to output, capacity or services thereof, but does not include facilities for the distribution of electric energy for retail sale. See Louisiana Revised Statutes 33:4545.3

A project owned by the Authority shall be exempt from property taxes; provided, however, that the Authority owning a project may, in lieu of property taxes, pay to any governmental body authorized to levy property taxes an amount in lieu of property taxes.  Payments in lieu of taxes made hereunder shall be treated in the same manner as taxes for purposes of all procedural and substantive provisions of law.  Except as herein expressly provided with respect to projects owned by the Authority, no other property of the Authority used or useful in the generation, transmission and transformation of electric power and energy shall be subject to payment in lieu of taxes.

Added by Acts 1979, No. 772, §1, eff. July 20, 1979.