1. 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. 1. the total number of years of exemption shall not exceed 15 years;
   2. 2. the applicant can show that it is in the best interest of the state of Louisiana to extend the contract;
   3. 3. the renewal is recommended by the Department of Economic Development, and the Board of Commerce and Industry; and
   4. 4. the renewal is approved by the Joint Legislative Committee on the Budget and the governor.

Authority Note

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

Historical Note

HISTORICAL NOTE: 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).