La. Admin. Code tit. 13 § I-1518
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-1518 - Contract RenewalsA. The initial contract may be entered into for a period up to a maximum of five years under such terms and conditions the board deems to be in the best interest of the state. Each contract may be renewed for a period of up to five years, provided that the total number of years of a contract shall not exceed 10 years, the terms and conditions of which shall be deemed in the best interest of the state. Any renewal contract shall become effective only if the local governmental subdivision levying the tax approves of the renewal prior to the action by the Board of Commerce and Industry to renew the contract. The applicant shall receive and submit the approval of the local governmental subdivision to the Board of Commerce and Industry along with the request for a contract renewal.La. Admin. Code tit. 13, § I-1518
Promulgated by the Department of Economic Development, Office of Commerce and Industry, Division of Business Incentives LR 26:634 (April 2000).AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3389.