La. Admin. Code tit. 25, § I-1111 - Reporting Requirements
A. By
January 31 of each year, the local governing authority shall prepare and submit
to the department an annual report on the impact of the certified cultural
district with regard to the purposes of the creation of a cultural district.
This reporting requirement begins at least one full year after
certification.
B. The local
governing authority shall submit the annual report in the format set forth by
the department .
C. The annual
report shall reflect the activity of the prior calendar year.
D. The annual report shall also include
cumulative data reflecting activity since the date of the creation of the
cultural district.
E. The report
shall include information that describes the impact of the tax exemption
programs, the tax credit programs, and any other factors that describe the
impact of the cultural district on the community, which information shall
include but is not limited to:
1. the number,
value, and type of historic rehabilitation tax credits applied for;
2. the number, value, and type of historic
rehabilitation tax credits awarded;
3. the value of investment in the district
through rehabilitation projects or other projects;
4. the number of occupied buildings and use
of those buildings;
5. the number
of vacant buildings;
6. the sales
tax revenue generated in the district;
7. the amount of sales tax exemptions claimed
for sales of original, one of a kind works of art; and
8. any other evidence of the level of
cultural activity in the district, including the number of cultural events and
attendance at each.
F.
If the local governing authority fails to submit the annual report timely, the
department shall report such failure to the House Committee on Ways and Means,
the Senate Committee on Revenue and Fiscal Affairs, and the local legislators
in whose legislative districts the cultural district is located.
G. If the local governing authority fails to
submit the annual report, the department may revoke certification of the
cultural district using the procedure set forth in Section 1119. Such
revocation shall not become effective less than one year from the date the
department issues the notice of failure to the local governing
authority.
Notes
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