Legislation Would Make Louisiana Businesses Hit by Hurricane Laura Eligible for New Markets Job Act Incentive

Tuesday, September 29, 2020 - 10:30am

Legislation introduced in the Louisiana House of Representatives would amend the state New Markets Jobs Act incentive to make businesses affected by Hurricane Laura eligible as qualified active low-income community businesses (QALICBs) for qualified equity investments (QEIs) made on or after Aug. 1, 2020. Similar legislation was introduced in the state Senate. The Louisiana New Markets Jobs Act tax credit is a 45 percent credit taken against the state insurance premium tax.