Finansnyheder

Louisiana House to debate revising Edwards tax break changes

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Via AP Business

April 29, 2019

BATON ROUGE, La. (AP) — A bid to rework changes Gov. John Bel Edwards made to a lucrative Louisiana property tax break program for manufacturers has narrowly advanced to the full House for debate.

The Democratic governor tied tax breaks from the Industrial Tax Exemption Program to job creation and retention and gave local government a say in whether exemptions are issued. Parish councils, police juries, sheriffs and school boards help determine the tax breaks since they lose the property tax revenue.

Business groups have called the local approval process too complicated and disorganized.

Legislation by Republican Rep. Rick Edmonds would lessen local input. A three-person board would review tax break applications, including the sheriff, school board president and head of the local governing authority.

The House commerce committee voted 8-7 to advance the proposal.


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