Louisiana Senate Bill SB3

Louisiana 2018 2nd Special Session

• Introduced: 5/22/18
• Refer: 5/22/18
• Report Pass: 5/24/18
• Engrossed: 5/31/18
• Report Pass: 6/1/18
• Enrolled: 6/4/18
• Chaptered: 6/12/18
• Passed: 6/12/18

Caption

Provides for administration of incentive rebates under the Quality Jobs and Enterprise Zone programs. (Items #21 and 27)(gov sig) (REF -$3,128,880 GF RV See Note)

Impact

The passage of SB3 is expected to impact Louisiana's tax structures and economic development strategies significantly. By refining the application process for rebate requests, the legislation aims to expedite the rebate payments to businesses, which proponents argue could foster an environment more conducive to job growth and economic activity. The bill delineates clear timelines—rebates are to be issued within a defined number of days after a completed request, reducing uncertainty for businesses in receiving financial incentives.

Summary

Senate Bill No. 3, introduced by Senator Johns, aims to amend provisions related to the administration of incentive rebates under Louisiana's Quality Jobs and Enterprise Zone programs. The bill revises the application processing timelines and changes the period for issuing rebate payments, thereby streamlining the rebate process for businesses that qualify for state sales and use tax rebates. The amendments also set forth the conditions under which rebates are audited and how audits will impact the disbursement of funds to applicants.

Sentiment

The general sentiment surrounding SB3 appears to be favorable, particularly among businesses and economic development advocates who believe that the changes will enhance the efficiency and attractiveness of Louisiana's incentive programs. Supporters argue that the bill will not only support business operations by reducing wait times for rebates but will also contribute positively to job creation. However, there may also be concerns regarding fiscal responsibility and the potential for abuse of the rebate system, given the enhanced focus on expedited payments.

Contention

Notable points of contention could arise from the speed at which rebates are processed and the implications for state revenue. Some stakeholders may worry about the enforcement of audit provisions and ensuring that only eligible businesses benefit from these rebates. As with many incentive programs, there could be debates about the balance between fostering business growth and maintaining adequate state revenue, especially in light of the extended timelines provided for audit and disallowance of ineligible claims.