§ 150-543. Same—Renewal contract.

Latest version.

In accordance with R.S. 46:813.1C, after expiration of the initial contract period of five years any research, manufacturing, and technology concern as defined therein shall thereafter obtain a renewal resolution from the council. The participant to qualify for the five-year renewal contract shall demonstrate that the tax incentive received by the research, manufacturing, and technology concern produces sufficient benefits of jobs created to warrant the loss of tax revenue by the city and state.

(Code 1956, § 56-31.14)

                    
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