House Bill No. [insert number] proposes amendments to Louisiana's gaming laws, specifically regarding promotional play allowances for gaming operators that make qualifying capital investments. The bill increases the annual deduction for promotional play wagers from $5 million to include additional amounts earned as specified in the new provisions. It introduces a promotional play credit for gaming operators that make qualifying capital outlays, allowing them to claim a credit equal to the total dollar amount of their capital investment, capped at either 10% of the qualifying capital outlay or 20% of the operator's gross gaming revenue for that tax year, whichever is greater. This credit can be claimed for up to ten taxable years.

Additionally, the bill mandates the Louisiana Economic Development department to create a strategic economic development plan that will include recommendations on gaming taxes and incentives aimed at promoting further capital expenditures and economic development. This plan is to be submitted to the legislature by January 1, 2027. The bill amends existing definitions related to net gaming proceeds and gross revenue to incorporate these changes, ensuring that the new promotional play credits are clearly defined and regulated.

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