Section I-1601 - Purpose (Louisiana Code of Regulations)

§ I-1601. Purpose

A. The purpose of this Chapter is to implement the Motion Picture Investor Tax Credit Program as established by R.S. 47:6007.

B. This Chapter shall be administered to achieve the following:

1. to encourage development of a strong capital and infrastructure base within the state for the motion picture and related industries;

2. to achieve a self-supporting, independent, indigenous industry; and

3. to encourage development of state of the art motion picture production and post-production facilities:

a. in the short-term, to attract private investors in state-certified productions and state-certified infrastructure projects;

b. in the long-term, to encourage the development of a skilled state workforce trained in the film and video industry.

C. This Chapter shall apply to any person:

1. claiming a credit;

2. transferring or selling a credit; or

3. acquiring a credit under this program.

(Promulgated by the Department of Economic Development, Office of Business Development, Office of Entertainment Industry Development and the Office of the Governor, Division of Administration, LR 36:52 (January 2010).)

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:1125.1.

Disclaimer: All information on this page is frequently updated based on official sources. However, Lawrina cannot accept any responsibility for the accuracy of the content for Section I-1601 Purpose. To check for possible violations, please check the official sources.

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