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Cultural Districts Power Point Presentation - CRT - Home Page

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  • pg 1
									              A program of
   the Office of the Lt. Governor
providing tax exemptions and credits in
       locally designated districts
Cultural Districts Background
 Cultural Economy Initiative
 144,000 jobs pre Katrina and Rita in 2005
 Mt. Auburn Associates
 Tax incentive research – Feb. 2007
        artist-based incentives
        industry-based incentives
        place-based incentives
     2007 Legislation
       Primary Goal
(modeled after DDD legislation)
  To revitalize communities
  by creating locally driven
   hubs of cultural activity
       Cultural Districts
 Geographically contiguous
 Vital role in cultural life of community
 Focus on cultural compound, art
institution, art/entertainment businesses
 Where artisan production, promotion,
preservation and education occurs
contributing to the public good
 Cultural Districts Overview:
 Allows local governments to designate cultural
districts for the purpose of revitalization
 Tax incentives encourage renovations and
commerce based on local culture
 Benefits may include increased occupancy,
commerce, jobs, and a sense of community
identity
 Requires local governments who designate such
districts to report on impact to their community
    Application Authority

 Local Governing Authority- the local
governing authority of the parish or the
municipality in which the cultural district
is located, or both if a district is located
partially in a municipality.
 LGA may designate authority related to
application and reporting responsibilities
             Tax Incentives
 Expands eligibility of existing state historic tax
credits for the rehabilitation of commercial and
residential structures located in Cultural Districts
 State and local sales taxes* shall not apply to the
sale of original, one-of-a-kind works of art from an
established location within the boundaries of a
Cultural District.
      * Check local tax laws for restrictions
Definition of Original Art

 Original
 One-of-a-kind
 Visual art
 Conceived and made by hand of the
artists or under his direction
 Not intended for mass production
 Eligible Visual Arts and Crafts
 Include but not limited to drawing, painting,
  sculpture, clay, ceramics, fiber, glass, leather,
  metal, paper, wood, or mixed media; and

 Limited numbered editions (up to 100) of
  lithographs, photography, silk screen,
  intaglios, etching, graphic design, installation
  art, light sculpture, video production, and
  wearable art
Certifying tax exempt sales
 Vendors shall certify and document each tax-
  exempt sale of original art:
 Complete a Sales Tax Exemption Certificate to
  be retained for audit
 A statement by the vendor certifying that the
  work of art meets the definition of a tax-
  exempt work of art.
         Business Inventory
 Each Cultural District must create and
  maintain a Business Inventory
 List all active businesses that have
  occupational licenses and report revenue
  from sales of services and/or products
 The Inventory will facilitate annual Louisiana
  Department of Revenue reports showing the
  total revenue generated and total amount of
  estimated eligible tax exemptions claimed in
  each Cultural District.
 Reporting requirements

By January 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 related to the criteria
presented in the application.
   Cultural Districts Process
 Applications due Jul. 1 and Dec. 1 annually
 Technical assistance is available to local
  governments to complete applications
 Panel review/ OCD Assistant Sec. decision
 Certify Cultural Districts within 90 days of
  application
 CRT provide ongoing support for program
  implementation
   For more information:
www.crt.state.la.us/culturaldistricts
       Call – 225-342-8161
Email – ghamilton@crt.state.la.us

								
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