Louisiana House Bill HB783

Louisiana 2016 Regular Session

• Introduced: 3/4/16
• Refer: 3/4/16
• Refer: 3/14/16
• Report Pass: 3/29/16
• Engrossed: 4/7/16
• Refer: 4/11/16
• Report Pass: 5/2/16
• Enrolled: 6/2/16
• Chaptered: 6/17/16
• Passed: 6/17/16

Caption

Relative to the Louisiana Quality Jobs Program (EN DECREASE GF RV See Note)

Impact

The key impact of HB 783 is the formalization and extension of incentive programs that support businesses in Louisiana. By allowing businesses that demonstrate growth through job creation and capital investment to receive tax rebates, the bill seeks to stimulate economic activity in the region. This legislation can potentially lead to increased employment opportunities and greater economic stability, especially in areas targeting new business enterprises that meet the set criteria for rebates. Additionally, it also sets clearer processes for the local tax rebate issuance and accountability for compliance.

Summary

House Bill 783 amends provisions related to the Louisiana Quality Jobs Program, which focuses on providing incentive rebates aimed at promoting job creation and economic development within the state. The bill introduces changes to the existing tax rebate structures, particularly concerning the sales and use tax rebates available to businesses. Its primary goal is to enhance the state's ability to attract and retain businesses by offering financial incentives directly tied to job creation and capital investment in the state.

Sentiment

The sentiment surrounding HB 783 appears generally positive among proponents who view it as essential for bolstering the state's economic landscape. Business advocates, particularly those in the construction and manufacturing sectors, appreciate the financial support for job-creating activities. However, there could be concerns regarding the sustainability of such incentives and whether they may lead to an over-reliance on state subsidies, creating a contentious debate among various stakeholders about fiscal responsibility and the long-term implications of tax rebates on state revenues.

Contention

Notable points of contention may arise from discussions around the effectiveness of the Louisiana Quality Jobs Program and whether the proposed changes will achieve the desired results in job creation. Critics may argue that while the bill aims to provide much-needed support for businesses, it could inadvertently favor larger corporations over small businesses or lead to a cyclical nature of dependency on rebates. Furthermore, the bill's provisions about the suspension of rebates if job creation targets are not met could lead to disputes about accountability and compliance among businesses that are receiving state subsidies.