ANNOUNCEMENT 23 Jun 2017

The bill phased out two incentive programs and specified that certain sectors are outside their scope.

 

 

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising
Inception date: 23 Jun 2017 | Removal date: open ended

Tax or social insurance relief

On June 23, 2017 the governor of Louisiana signed into law a bill (SB183) that scales back some of the state government’s investment-incentive programs. It phased out by July 1, 2022 the Quality Jobs Program and the Competitive Projects Payroll Incentive Program. It also added to the list of employers not eligible for quality jobs incentives the following:

  1. Professional service firms that do not provide more than 50% of their services to out-of-state customers.
  2. Construction companies that are not the corporate headquarters of a multi-state business or that do not have more than 50% of their total sales to out-of-state customers or the federal government.
  3. Employment services.
  4. Medical professionals that are not engaged in biomedical or biotechnology industries, servicing rural hospitals, or providing at least 50% of their services to out-of-state patients.

The new law also prohibited the Board of Commerce and Industry from entering into contracts for tax exemptions, tax credits, and rebates with businesses that locate in university research and development parks. Prohibited new cooperative endeavor agreements with a mega-project for the rebate of severance tax.

AFFECTED PRODUCTS

 
N/A