RÉSUMÉ DIGEST
ACT 28 (HB 13) 2020 First Extraordinary Session Wright
Existing law establishes the Enterprise Zone program (program) which authorizes eligible
businesses to enter into contracts with the Board of Commerce and Industry to receive
refundable income and franchise tax credits or state and local sales and use tax rebate
payments in exchange for the creation of a specified number of jobs that involve employees
who meet certain residency and other requirements. Provides for eligibility and
qualifications for participation in the program.
Existing law excludes certain retail businesses such as professional employment services
whose advance notification was not filed before April 1, 2016, from participating in the
program.
Prior law excluded hotels and certain retail stores whose advance notification was not filed
before April 1, 2016, from participating in the program.
New law expands eligibility for participation in the program to businesses assigned a North
American Industry Classification Code (NAICS) of 44, 45, 721, or 722 for retailers, hotels,
and restaurants with no more than 50 employees nationwide including affiliates prior to the
contract effective date. Further requires those businesses to file or enter into an advance
notification between July 1, 2020, and Dec. 31, 2021, in order to be eligible to participate in
the program. New law prohibits these businesses from participating in and earning benefits
from the program after June 30, 2023.
Prior law prohibited the Dept. of Economic Development from accepting any advance
notification on or after July 1, 2021 for participation in this program.
New law extends termination of the program from July 1, 2021, to July 1, 2026.
Effective July 1, 2020.
(Amends R.S. 51:1787(B)(3)(c) and (K); Adds R.S. 51:1787(B)(3)(e))