House Bill No. [insert number] establishes the Work-Based Learning Tax Credit aimed at incentivizing the employment of eligible apprentices, interns, and youth workers in Louisiana. The bill amends existing laws, specifically R.S. 23:386 and R.S. 47:6033(G), and introduces R.S. 47:6003, which defines eligible apprentices, interns, and youth workers, and outlines the criteria for the tax credit. The credit is set at $2.50 per hour of employment or a maximum of $2,500 for each eligible worker employed for at least 100 hours during the taxable period, with an annual cap of $7.5 million on the total credits granted. The bill also specifies that no credits can be earned before January 1, 2026, or after December 31, 2031.

Additionally, the bill modifies the definition of "apprentice" to include various program models and establishes procedures for determining employer eligibility for the credit, in consultation with the Louisiana Workforce Commission. It allows for the carryover of unused credits to subsequent years if the total granted falls below the annual limit. The legislation aims to enhance workforce development by encouraging businesses to hire individuals who may lack adequate on-the-job training, thereby contributing to economic growth in the state.

Statutes affected:
HB533 Original: 47:6033(G)