BATON ROUGE, La. (AP) — Louisiana voters will be asked in November whether they want to offer a 10-year local property tax break to more businesses.
The Jindal administration proposal received final passage Thursday with a unanimous House vote.
If approved by voters, parishes would be able to offer the tax breaks to digital media businesses, data centers, corporate headquarters and research and development firms. The businesses would have to make a capital investment in Louisiana greater than $25 million and create at least 50 new jobs.
Lawmakers stripped the broad authority the legislation could have given to Economic Development Secretary Stephen Moret and added more hurdles before offering a tax break.
A series of local governing bodies would have to decide if they want to participate before the tax break could be offered.
