La. Admin. Code tit. 13 § I-1721

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-1721 - Renewing the Contract

A. The initial contract can be entered into for any period not exceeding five years. Each contract may be renewed for periods of up to five years providing that:

1. the total number of years of exemption shall not exceed 15 years;

2. the applicant can show that it is in the best interest of the state of Louisiana to extend the contract;

3. the renewal is recommended by the Department of Economic Development, and the Board of Commerce and Industry; and

4. the renewal is approved by the Joint Legislative Committee on the Budget and the governor.

La. Admin. Code tit. 13, § I-1721

Promulgated by the Department of Commerce, Office of Commerce and Industry, Finance Division, LR 11:945 (October 1985), amended by the Department of Economic Development, Office of Business Development Services, LR 37:3499 (December 2011).

AUTHORITY NOTE: Promulgated in accordance with Act 403 of 2005 amending R.S. 47:4301-4306.