LAC 13: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.