House Bill No. 415, introduced by Representative Echols, aims to enhance promotional play allowances for gaming operators that make qualifying capital investments. The bill amends existing law to allow gaming operators to deduct up to $5 million in promotional play wagers from their taxable revenue, while also introducing a new provision that grants an additional promotional play credit based on qualifying capital outlays. Specifically, the credit can equal the total dollar amount of the qualifying capital outlay, with a cap of either 10% of the outlay or 20% of the operator's gross gaming revenue for the tax year, whichever is greater. This credit can be claimed for up to ten taxable years, and any unused portion after that period will be forfeited.

Additionally, the bill mandates the Louisiana Economic Development department to create a strategic economic development plan that includes recommendations regarding gaming taxes and incentives to promote further capital investments. This plan is to be submitted to the legislature by January 1, 2027. The proposed changes aim to stimulate economic growth within the gaming sector by incentivizing operators to invest in their facilities and operations.

Statutes affected:
HB415 Original: 27:44(15), 27:205(16)
HB415 Engrossed: 27:44(15), 27:205(16)