HB 507: ECONOMIC DEVELOPMENT: Establishes the High Impact Job Program within Louisiana Economic Development and provides for administration of the program (EN SEE FISC NOTE SD EX See Note) - Louisiana

HB507 Original → HB507 Act 372 · 5 edits

MODERATE

The bill was enacted into law as Act 372, changing the program title from 'Capital Investment Tax Credit' to 'High Impact Jobs Program' and updating the chapter name. The most significant substantive change is the expansion of eligibility criteria to include projects in 'distressed areas' that pay wages at or above 110% of the average local wage, whereas the original draft only allowed this lower threshold for distressed areas. Additionally, the definition of 'basic health benefits' was clarified to explicitly reference federal Fair Labor Standards Act exemptions, and the definition of 'jobs' was updated to clarify that positions must be filled by Louisiana employees.

Scope change

The program's scope was expanded to include a new eligibility pathway for distressed areas with a lower wage threshold (110% vs. the previous 125% for standard parishes), making it easier for companies in economically struggling regions to qualify for incentives.

DEFINITION

The definition of 'basic health benefits plan' was revised to explicitly state that coverage must match that provided to employees exempt from federal minimum wage and maximum hour requirements.

The definition of 'jobs' was updated to clarify that positions must be filled onsite or remotely by Louisiana employees of the company or a named subsidiary.

ELIGIBILITY

A new eligibility criterion was added allowing companies in 'distressed areas' to qualify if they pay wages equal to or greater than 110% of the average wage, expanding access beyond the previous 125% threshold.

The wage threshold for standard parishes was adjusted to require wages equal to or greater than 125% of the parish average wage to qualify for incentives.

SCOPE

The chapter title was changed from 'Louisiana Capital Investment Tax Credit High Impact Jobs Program' to 'Louisiana High Impact Jobs Program' to better reflect the program's focus.

HB507 Enrolled → HB507 Original · 5 edits

MODERATE

The bill was renumbered from 'Enrolled' to 'Original' and reorganized to include a new High Impact Job Program. Key changes include clarifying that health benefits must be provided within 90 days, updating wage thresholds for tax credit eligibility, and modifying the definition of 'Jobs' to explicitly require full-time, at-will employment.

Scope change

The bill's scope expanded to establish a new High Impact Job Program within Louisiana Economic Development, replacing the previous Capital Investment Tax Credit framework with specific job creation incentives.

SCOPE

Established the High Impact Job Program within Louisiana Economic Development to encourage companies to create jobs paying above the parish average wage.

DEFINITION

Updated the definition of 'Jobs' to explicitly require positions to be full-time and at-will, removing the phrase 'employees and does not include' for clarity.

REQUIREMENT

Clarified that basic health benefits must be effective no later than 90 days after hiring, matching the context of executive and professional employees.

ELIGIBILITY

Adjusted wage thresholds and incentive percentages for job creation grants based on parish average wage comparisons.

TECHNICAL

Reformatted the document header and page numbering from 'Enrolled' to 'Original' to reflect the legislative stage.

HB507 Re-Reengrossed → HB507 Enrolled · 4 edits · Jun 20, 2025

MODERATE

The bill was finalized as an enrolled version, removing prefiling constitutional language and streamlining the page count. The core policy content regarding the High Impact Jobs Program remains largely intact, with minor formatting adjustments to the definitions and incentive tiers.

Scope change

The bill's scope is unchanged; it still establishes the High Impact Jobs Program within Louisiana Economic Development.

TECHNICAL

Removed prefiling language referencing Article III, Section 2(A)(4)(b)(i) of the Constitution, as this is no longer needed for an enrolled bill.

Changed the document header from 'RE-REENGROSSED' to 'ENROLLED' and updated the page count from 10 to 6.

DEFINITION

Reordered the list of defined terms, moving 'Qualifying company' and 'Regional average wage' to new numbers (10 and 11) while shifting subsequent definitions down.

REQUIREMENT

Adjusted the formatting of the wage incentive tiers, renumbering the percentage grants from (a) and (b) to (a)(i) and (a)(ii) to align with a new substructure.

HB507 Reengrossed → HB507 Re-Reengrossed · 2 edits · Jun 8, 2025

MINOR

The bill was re-engrossed to reflect the latest legislative version, changing the document title from 'REENGROSSED' to 'RE-REENGROSSED'. A minor grammatical edit was made to a definition regarding employee classifications, removing the period after 'employees' to improve sentence flow. These changes are primarily technical and formatting updates rather than substantive policy shifts.

TECHNICAL

Updated the document header and coding notes to indicate the bill is now the 'RE-REENGROSSED' version instead of just 'REENGROSSED'.

DEFINITION

Removed a period after the phrase 'at-will employees' in a definition, changing the punctuation to allow the sentence to continue without a break.

HB507 Engrossed → HB507 Reengrossed · 4 edits · Jun 8, 2025

MODERATE

The bill was reengrossed to correct a calculation error in the wage incentive formula, changing the threshold from a fixed dollar amount to a rule-based definition. Additionally, the bill was renumbered to reflect the addition of a new incentive category for retaining highly skilled workers.

Scope change

The scope of the High Impact Jobs Program incentives was modified to include a new category for retaining workers with advanced degrees.

FISCAL

The definition of 'value' for healthcare requirements was changed from a fixed minimum of $1.25 per hour to a value determined by administrative rule, allowing for future adjustments.

The wage incentive calculation was updated to use the lesser of the parish average wage or a new 'regional average wage' instead of just the parish average wage.

A new incentive category was added to provide a reimbursable grant for retaining highly skilled workers with advanced degrees, as approved by the secretary.

DEFINITION

The definition of 'Secretary' was clarified to explicitly state 'the secretary of Louisiana Economic Development'.

ECONOMIC DEVELOPMENT: Establishes the High Impact Job Program within Louisiana Economic Development and provides for administration of the program (EN SEE FISC NOTE SD EX See Note)

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