A. Notwithstanding any other provision of law to the contrary, until January 1, 1996, the board may enter into a contract for the benefits of this Chapter, pursuant to R.S. 51:1787, with a business which was located within the boundaries of an enterprise zone prior to May 19, 1994, but which is not currently located within the boundaries of an enterprise zone, as follows:
(1) If the business was within the boundaries of a former urban enterprise zone, it shall meet all requirements of R.S. 51:1787(B), except Paragraph (3) of that Subsection. However, for purposes of meeting the requirements of R.S. 51:1787(B)(4)(a), the boundaries of the former urban enterprise zone may be used.
(2) If the business was within the boundaries of a former rural enterprise zone, it shall meet all requirements of R.S. 51:1787(D), except Paragraph (3) of that Subsection.
B. Notwithstanding any other provision of law to the contrary, as of January 1, 1996, the board may enter into additional contracts for the benefits of this Chapter, pursuant to R.S. 51:1787, with a business located within the boundaries of an enterprise zone prior to May 19, 1994, but not currently located within the boundaries of an enterprise zone if that business held such a contract with the board prior to January 1, 1996, and complies with the provisions of Paragraph (1) or (2) of Subsection A of this Section.