BATON ROUGE, La. (AP) — Lawmakers have agreed to regulations that will govern a package of tax breaks pushed by Gov. Bobby Jindal for businesses seeking to locate or expand in Louisiana.
Overwhelming approval by a joint House and Senate committee came Tuesday even as lawmakers continued to worry about how much tax breaks are costing the state treasury.
Louisiana's economic development secretary will be able to offer three new tax breaks to businesses considering whether to relocate or expand here. They include rebates for payroll, relocation costs and corporate income and franchise taxes.
The tax rebate agreements require approval by a joint House and Senate budget committee after a review aimed at making sure the state will get more tax revenue from the new jobs created than the tax money lost with the credit.