House Bill No. [insert number] enacts Chapter 47 of Title 51 of the Louisiana Revised Statutes, establishing the High Impact Jobs Program. This program aims to incentivize companies to create jobs that pay above the parish average wage and provide a basic health benefits plan. The Louisiana Economic Development (LED) will administer the program, offering grants based on the wages paid for qualifying jobs, with specific percentages determined by the location and wage levels. The bill outlines eligibility criteria for companies, including wage thresholds and restrictions on certain sectors, and establishes a special fund, the High Impact Job Fund, to support these incentives.

The bill also details the application process for companies seeking participation in the program, including the requirement for an expenditure verification report for reimbursement requests. It specifies that no other incentives can be received for the same expenditures or jobs funded through this program. Additionally, the secretary of LED is granted the authority to promulgate rules for the program, subject to legislative approval. The provisions of this Act will take effect on July 1, 2025, with the first grants to be issued no earlier than July 1, 2026.