§16.10. Duties of the commissioner relative to the incentives database
A.(1) The commissioner shall ensure the website includes an incentives database that is electronically searchable by the public.
(2) The commissioner shall require any state agency that administers an incentive expenditure program to report the information stated in this Section for any incentive expenditure entered into on or after July 1, 2018.
(3) Such information shall be provided no later than six months after the effective date of such incentive expenditures and shall be updated as needed no less than every twelve months thereafter. The state agencies that administer such programs shall provide, or shall require the beneficiaries of each program to provide, sufficient information to satisfy the requirements of this Subsection. The direct recipient shall assume responsibility for reporting the information required in this Section.
B. The incentives database shall have the following functionality:
(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 such recipient.
(3) The estimated net new jobs and/or payroll.
(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 such recipient.
(6) The official forecast of the incentive expenditure forecast adopted by the Revenue Estimating Conference.
(7) The incentives database shall not include the information that is protected from disclosure pursuant to R.S. 44:3.2(C) and 22.
Acts 2018, 2nd Ex. Sess., No. 1, §1, eff. July 1, 2018.
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