Louisiana Senate Bill SB260

Louisiana 2011 Regular Session

• Introduced: 5/4/11
• Refer: 5/4/11

Caption

Provides for filing claims to receive certain rebates or credits under the Quality Jobs program. (gov sig)

Impact

The bill's impact on state laws revolves around modifying the eligibility criteria for employers to tap into financial incentives under the Quality Jobs Program. By allowing capital investment to be factored into the rebate application process, SB260 could attract more businesses to invest and expand in Louisiana, thereby contributing to the state's economic development and job growth. Existing companies that qualify for the program will find the application process more favorable, potentially leading to increased job opportunities and business investment in local communities.

Summary

Senate Bill 260 aims to amend the Louisiana Quality Jobs Program by providing avenues for employers to file claims for certain rebates or credits associated with this program. Specifically, the bill expands existing provisions to include capital investment in addition to gross payroll when determining eligibility for additional rebates or credits. This change is designed to make it easier for employers who are expanding to receive the necessary financial incentives to support job creation in the state.

Sentiment

Overall, the sentiment surrounding SB260 appears to be positive, particularly among business owners and economic development advocates who see the bill as a means to stimulate the economy. Supporters of the bill emphasize its potential to foster a more business-friendly environment, which could be instrumental in job creation and sustaining economic growth in Louisiana. However, there may also be concerns about the effectiveness of such incentives and whether they truly benefit the broader community.

Contention

Notable points of contention regarding SB260 may focus on the debate over the allocation of state funds for rebates and credits and whether the expansion of the Quality Jobs Program adequately addresses the needs of small businesses versus larger corporate entities. Additionally, questions may arise about the long-term sustainability of such financial incentives and their actual return on investment for the state economy. Opponents may argue that the increased incentives should be matched with rigorous accountability measures to ensure that the expected economic benefits materialize.