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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012 ENROLLED
SENATE BILL NO. 412
BY SENATOR CLAITOR
AN ACT1
To enact R.S. 17:3361(A)(6), relative to colleges and universities; to provide relative to2
leases of college and university properties; to provide relative to leases to certain3
organizations; to authorize leases to Louisiana businesses to be located in an area of4
property designated by the college or university as a business incubator or research5
park; to provide certain terms, conditions, requirements, and definitions; and to6
provide for related matters.7
Be it enacted by the Legislature of Louisiana:8
Section 1. R.S. 17:3361(A)(6) is hereby enacted to read as follows: 9
ยง3361. Authority of boards to execute leases10
A. Each board may grant leases of any portion or portions of the grounds or11
campus of any college or university or of other immovable property under its12
supervision and management, for a term not to exceed ninety-nine years for each13
lease, to any of the following:14
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(6) A business to be located in an area designated by the college or16
university as a business incubator or research park, subject to the following17
conditions:18
(a) The initial term of the lease shall not exceed thirty years, with an19
option to renew the lease twice. Each such renewal period shall not exceed ten20
years.21
ACT No. 657 SB NO. 412 ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
(b) "Research park" shall mean a Louisiana research park as defined in1
R.S. 51:1923(11).2
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PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: