La. Admin. Code tit. 13 § I-5105

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

Section I-5105 - General Principles

A. The following general principles will direct the administration of the program.

1. Awards are not to be considered as an entitlement for companies, and the secretary has the final authority to determine whether or not each particular applicant is eligible and meets the criteria of the award, and in all such circumstances, the exercise of that discretion shall be deemed to be a final determination of the applicant's award status.

2. Applications shall be accepted on a year round basis, subject to availability of funding in any given year, or as otherwise determined by LED.

3. Applicants may apply for more than one program administered by LED, provided that:

a. separate applications are submitted per program; and

b. to the extent allowable under federal and state laws and regulations.

B. Program Issuance Cap

1. LED may issue no more than $500,000 (five hundred thousand dollars) per fiscal year from the Recruitment Fund;

2. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.

C. Applicant issuance cap.

1. LED may issue no more than $100,000 (one hundred thousand dollars) total per applicant.

La. Admin. Code tit. 13, § I-5105

Promulgated by the Department of Economic Development, Office of the Secretary, LR 491032 (6/1/2023).

AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104 and 51:2402.