Gov. Jindal proposes new business tax breaks
BATON ROUGE, La. (AP) - Gov. Bobby Jindal is proposing to expand business incentive programs in a bid to attract new industry and corporate headquarters to Louisiana.
Among the proposals are a rewriting of the corporate tax laws, expansion of a local property tax exemption program, a new incentive for certain businesses that create high-paying jobs with benefits and a rebate for location costs when a company moves its headquarters to the state.
The measure with the highest price tag would expand a 10-year property tax exemption offered to manufacturers to include new businesses, like digital media and renewable energy companies.
It would require a constitutional change and parish leaders to decide whether they want to participate.
Jindal outlined the four bills Thursday. Lawmakers will consider them in the regular session that begins March 12.