La. Admin. Code tit. 13 § I-4905

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

Section I-4905 - General Principles

A. The following general principles will direct the administration of the program.

1. Awards are not be considered as an entitlement for companies, and the secretary has the final authority to determine whether or not each particular applicant is eligible and meets the criteria of the award, and in all such circumstances, the exercise of that discretion shall be deemed to be a final determination of the applicant's award status.

2. Applications shall be accepted on a year round basis, subject to availability of funding in any given year, or as otherwise determined by LED.

3. Applicants may apply for more than one program administered by LED, provided that separate applications are submitted per program.

B. Program Issuance Cap. LED may issue no more than $1,000,000 per fiscal year from the Retention Fund as follows:

1. up to $500,000 shall be allocated for Phase I SBIR or STTR federal grant recipients;

2. up to $500,000 shall be allocated for Phase II SBIR or STTR federal recipients.

C. Applicant Issuance Cap

1. Each selected applicant shall receive an amount equal to 25 percent of the Phase I SBIR or STTR federal grant the applicant has received, not to exceed $50,000 per applicant;

2. Each selected applicant shall receive an amount equal to 20 percent of the Phase II SBIR or STTR federal grant the applicant has received, not to exceed $100,000 per applicant.

La. Admin. Code tit. 13, § I-4905

Promulgated by the Department of Economic Development, Office of the Secretary, LR 49850 (5/1/2023).

AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104 and 51:2401.