La. Admin. Code tit. 13 § I-921

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

Section I-921 - Contract Renewal

A. Effective January 1, 1991, contracts may be renewed, subject to the same conditions, for an additional five years extending such right for a total of 10 years from completion of the work.

B. In order to be eligible for renewal of an existing contract the Project Completion Report and affidavit of final cost, contract addendum documents, must have been filed for the original contract; taxes cannot have been paid on the improvements pursuant to R.S. 47:4315.A.(4); and a renewal application form must be submitted. The following documentation should be submitted:

1. three copies of the application, Form RTA1, marked "Renewal," containing current data;

2. a written, notarized certification (three copies) from the applicant, referencing the original application/contract number, that "taxes have not been paid on improvements exempted under contract number (number), for (owner name), pursuant to R.S. 47:4315, Paragraph A.(4) and the Restoration Tax Abatement Program Rules"; and

3. a renewal fee check for $250, payable to Louisiana Economic Development.

C. The same approval process, as used for the original application and contract, will be followed for renewal contracts. Applications must first be filed with the Office of Commerce and Industry. They will then be sent to the local governing authority for approval. If approved by the local governing authority, the application will be submitted to the Board of Commerce and Industry.

La. Admin. Code tit. 13, § I-921

Promulgated by the Department of Economic Development, LR 18:252 (March 1992), Amended LR 42224 (2/1/2016).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:4311-4319.