The bill, introduced by Senator Pressly, enacts a new provision under R.S. 23:631(F) concerning the payment of wages to employees after termination of employment. Specifically, it clarifies that the existing provisions regarding wage payment do not apply to profits interest granted or issued by entities that are taxed as partnerships for federal income tax purposes.

This legislative change aims to delineate the scope of wage payment regulations, ensuring that certain types of compensation related to partnership interests are excluded from the standard requirements that govern employee wage payments upon termination. The bill reflects an effort to provide clarity in the treatment of specific compensation structures within the framework of Louisiana's employment laws.

Statutes affected:
SB133 Original: 23:631(A)(1), 23:633(A)