LAC 13:I.5103. Definitions

A. Terms not otherwise defined in this Chapter shall have the same meaning given to them in R.S. 51:2402, unless the context clearly requires otherwise. B. In this Chapter, the following terms shall have the meanings provided herein, unless the context clearly indicates otherwise. Applicant—a person requesting a grant award from LED under this program. Business Operations—the location where significant administrative or managerial activities of a business are conducted and research and development work is performed. Department—Louisiana Department of Economic Development. Federal Notice of Award—a document issued by a federal agency evidencing approval of a Phase II SBIR or Phase II STTR application, including but not limited to amount of funding awarded, agreement number and topic number. LED—Louisiana Department of Economic Development. LED Grant Letter—a letter issued by LED to a person for a particular calendar year, setting forth the amount, terms and conditions of the grant. Out of State Small Business—a business domiciled outside of Louisiana that qualifies as a small business according to the United States Small Business Administration’s size standards. Person—any natural person or legal entity including an individual, corporation, partnership, or limited liability company. REAL—Regional Economic Alliance of Louisiana. Recruitment Fund—Small Business Innovation Recruitment Fund. Relocate—relocate business operations from an out of state location to Louisiana. The company shall be required to maintain a physical location in this state, be licensed to conduct business in this state and shall be required to file a Louisiana income tax return. Secretary—Secretary of the Louisiana Department of Economic Development.