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 upon discharge or resignation do not apply to profits interest granted or issued by entities taxed as partnerships for federal income tax purposes.

This legislative change aims to delineate the treatment of profits interest in relation to employee wage payment laws, ensuring that such interests are excluded from the standard wage payment requirements outlined in the relevant sections of Louisiana law.

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