Louisiana Senate Bill SB412

Louisiana 2012 Regular Session

• Introduced: 3/12/12
• Refer: 3/12/12
• Report Pass: 4/2/12
• Engrossed: 4/4/12
• Refer: 4/5/12
• Report Pass: 5/15/12
• Enrolled: 5/30/12
• Chaptered: 6/7/12
• Passed: 6/7/12

Caption

Authorizes colleges and universities to enter into property leases with businesses to be located in areas designated as a business incubator or research park. (8/1/12) (EN SG RV See Note)

Impact

The enactment of SB 412 has significant implications for state laws governing property leases related to higher education institutions. By allowing colleges and universities to lease their lands for business incubation, the legislation enhances the ability of these entities to support local economic initiatives and foster innovation. The bill creates a framework where businesses can benefit from proximity to academic resources, thus leveraging research and development capabilities found within educational institutions.

Summary

Senate Bill 412, enacted in 2012, authorizes colleges and universities in Louisiana to enter into leases with businesses to be located in designated areas as business incubators or research parks. This initiative aims to promote economic development and innovation by facilitating collaboration between academic institutions and private enterprises. The bill establishes specific terms and conditions under which these leases may be executed, including a maximum initial term of thirty years and options for renewal, which makes it an appealing opportunity for businesses seeking a supportive environment for growth.

Sentiment

General sentiment surrounding SB 412 appears to be favorable from both legislators and educational leaders. There is a recognition of the potential for strengthened ties between academia and business, which could lead to job creation and technological advancements. However, some concerns may exist about the balance of priorities for university space and the risk of prioritizing businesses over academic needs.

Contention

Despite its overall support, there are potential points of contention regarding the scope of the bill's implementation. Questions may arise concerning the criteria for designating areas as incubators or research parks, as well as the oversight of leases and their alignment with educational mission objectives. Furthermore, the long lease terms could lead to implications for university land use that may necessitate careful consideration from university boards.