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B.The Grants for Grads Program and Fund will be funded through a special fund in the state treasury, the Grants for Grads Fund, for use by the Louisiana Housing Finance Agency for the provision of grants to persons participating in the Grants for Grads Program.

AUTHORITY NOTE:Promulgated in accordance with R.S. 39:100.74.

HISTORICAL NOTE:Promulgated by the Department of Treasury, Louisiana Housing Finance Agency, LR 34:

§703.Program Rules

A.Eligibility

1.LA resident who has an associate, baccalaureate, masters/postgraduate degree and was:
a.resident of LA at time of high school graduation (public, private, or BESE approved home-school); or
b.out-of-state graduate of accredited school whose parent was a LA resident at time of his (applicant’s) graduation and who resides in LA at time of registration in the program

B.Registration requirements:

1.provide evidence of LA residency and high school and college graduation;
2.intends to live and work in LA at least five years;
3.intends to purchase a permanent home in LA;
4.must register with LHFA within 60 days after graduation or completion of postgraduate degree;
5.if married and both spouses are eligible, the persons shall register individually.

C.Application for Grant

1.Time frame:
a.begins on due date of the filing of his fifth LA state individual income tax return since graduation;
b.ends on 90th day thereafter.
2.Married person shall apply as an individual and indicate if spouse is also registered in the program.
3.Information to provide for review:
a.timely filing of five LA state individual income tax returns over five consecutive taxable years following year of graduation:
i.each must show a tax liability owed (and paid) to the state:
ii.if married, both spouses must have such tax liability to receive the higher grant award:
b.evidence of continued residency and employment in LA since registering;
c.must not have been delinquent in payment of income taxes to state;
d.first-time homebuyer status (check federal tax returns).

D.Given to 100 grantees each year:

1.random lottery conducted by LHFA by January 31 if necessary;
2.lottery pool includes all graduate applicants who filed within last calendar year;
3.if married person selected and his spouse is registered also, the spouse's participation will be combined with grantee spouse's application;
4.written notification shall occur within 60 days after the lottery:
a.state the grant amount:
i.for an individual—the lesser of:
(a).the total cumulative LA state individual income tax paid in past five years;
(b).$10,000;
ii.for married couple—the lesser of:
(a).the total cumulative LA state individual income tax paid by grantee and spouse, filing jointly or separately in past five years;
(b).$15,000;
b.state the award period—end of 36th month from start date;
5.provided as cash payment to grantee when obtaining a mortgage loan;
a.must be processed within 36 months of date of award;
b.must be applied only to closing costs or required down payment;
c.no cash back to grantee at closing.

E.Recapture of funds:

1.applied if recipient fails to comply with criteria of homeownership;
2.funds recaptured by an increase in income tax for applicable taxable periods;
3.action can be initiated within 3 years from December 31 of the year grant was awarded.

AUTHORITY NOTE:Promulgated in accordance with R.S. 39:100.74.

HISTORICAL NOTE:Promulgated by the Department of Treasury, Louisiana Housing Finance Agency, LR 34:

Milton Bailey

President

0809#001

DECLARATION OF EMERGENCY

Department of Wildlife and Fisheries

Wildlife and Fisheries Commission

2008 Alligator Season Extension

In accordance with the provisions of R.S. 49:953B of the Administrative Procedure Act and LAC 76:V.701.A.7.a.i., the Secretary of the Department of Wildlife and Fisheries does hereby extend the closing date of the 2008 wild alligator harvest season as set out below.

During the first two weeks of September, Hurricane Gustav and Hurricane Ike struck Louisiana resulting in extensive damage throughout coastal Louisiana. This catastrophe has severely impacted over a million residents, flooded thousands of homes, and inundated millions of acres of coastal marshes. Assessment of these impacts is ongoing. Additionally, many alligator hunters in the affected areas are displaced and have had their harvest efforts delayed due to the hurricanes. Income for the annual wild alligator harvest often provides significant economic relief to these coastal residents. Therefore, the closing date of the 2008 wild alligator season will be extended to close statewide at official sunset on Sunday, October 19, 2008. Alligators taken from the wild may be removed from hook and line and taken with other legal capture devices only during daylight hours between official sunrise and official sunset. Hunters are reminded to coordinate their harvest activity with their local alligator buyer or processor as they may have been

Louisiana Register   Vol. 34, No. 10   October 20, 2008

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