Louisiana Revised Statutes 51:2462 – Applicability to existing contracts
Terms Used In Louisiana Revised Statutes 51:2462
- Contract: A legal written agreement that becomes binding when signed.
- Employer: shall mean a legal person who executes a contract with the department pursuant to the provisions of this Chapter and who offers, or will offer within ninety days of the effective date of qualifying for the incentive rebates pursuant to the provisions of this Chapter, a basic health benefits plan to the individuals it employs in new direct jobs in this state which shall be determined by the Department of Economic Development to be in compliance with federally mandated healthcare requirements or, if no federally mandated healthcare requirements exist, shall be determined to have a value of at least one dollar and twenty-five cents per hour. See Louisiana Revised Statutes 51:2453
A. The provisions of this Chapter, as amended by Act No. 387 of the 2007 Regular Session, shall apply to every contract executed on or after June 30, 2007, except as provided for in Subsection B of this Section.
B. The provisions of this Chapter and rules adopted, as they existed prior to the enactment of amendments contained in Act No. 387 of the 2007 Regular Session may apply to contracts or advance notification that were executed or filed prior to June 30, 2008, however the employer has the option of amending its existing contract or at the time of the execution of the original contract or renewal of such contract adopting the terms of the Chapter as amended.
Acts 2002, 1st Ex. Sess., No. 153, §1, eff. May 1, 2002; Acts 2007, No. 387, §1, eff. July 10, 2007.