This bill amends existing Louisiana law to establish a new tax credit program aimed at incentivizing the employment of apprentices, interns, and youth workers. It introduces the "Work-Based Learning Tax Credit Act," which allows businesses to claim a credit against their income tax for employing eligible individuals. The credit is set at $2.50 per hour of employment, capped at $2,500 per individual per taxable period, with an overall annual cap of $1 million for 2026, increasing based on prior year utilization. The bill outlines specific eligibility criteria for apprentices, interns, and youth workers, as well as the application process for businesses seeking to claim the credit.

Additionally, the bill modifies the definition of "apprentice" to include various program models and establishes a timeline for the credit's availability, allowing it to be earned from January 1, 2026, to December 31, 2031. It also includes provisions for the recovery of disallowed credits and prohibits the receipt of other incentives for the same employment that qualifies for this tax credit. The amendments to R.S. 23:386 and R.S. 47:6033(G) reflect these changes, with the latter specifying that no credits will be earned after December 31, 2025. The bill is set to take effect on January 1, 2026.

Statutes affected:
HB533 Original: 47:6033(G)
HB533 Engrossed: 47:6033(G)
HB533 Reengrossed: 47:6033(G)
HB533 Enrolled: 47:6033(G)
HB533 Act : 47:6033(G)