This bill enacts a new section, R.S. 47:1517.2, which establishes the responsibilities of the legislative auditor regarding the evaluation and reporting of tax incentives and economic development programs in Louisiana. The legislative auditor is tasked with conducting evaluations at least once every four years, preparing cost-benefit analyses, and assessing the effectiveness of these programs. The auditor will analyze various economic impacts, including job creation and effects on state revenue, and may contract with external entities for assistance in these evaluations. Additionally, the auditor has the authority to require companies receiving incentives to participate in evaluations and verify data.

The bill also repeals R.S. 51:935.1, which likely contained previous requirements related to economic development reporting. The new provisions aim to enhance accountability and transparency in the use of tax incentives and economic development programs, ensuring that they effectively contribute to job retention and economic growth in the state. The legislative auditor is required to publish a quadrennial report with recommendations for reforms based on the evaluations conducted, with the first report due by December 31, 2026.

Statutes affected:
HB535 Re-Reengrossed:
HB535 Enrolled:
HB535 Act :