House Bill No. 533, introduced by Representative Carver, establishes the Work-Based Learning Tax Credit in Louisiana to encourage the employment of eligible apprentices, interns, and youth workers. The bill introduces new definitions for these categories of workers and sets the tax credit at $2.50 per hour of employment, with a maximum of $2,500 for each eligible worker who works at least 100 hours during the taxable period. A credit cap of $1 million is established for the taxable year 2026, with provisions to increase this cap by $1 million in subsequent years if at least 80% of the previous year's cap is claimed, ultimately capping the total at $7.5 million. The bill also outlines eligibility criteria for employers and mandates the Department of Revenue to publish the credit cap amount annually.

Additionally, the bill modifies the termination date for earning apprenticeship tax credits from December 31, 2028, to December 31, 2025, and prohibits the granting of credits for eligible apprentices before January 1, 2026. It includes provisions to prevent taxpayers from receiving other job creation incentives if they have claimed a tax credit under this new law. The Department of Revenue is authorized to recover disallowed credits and create administrative rules for implementation. Overall, the legislation aims to enhance the apprenticeship program while ensuring accountability and clarity in the tax credit process.

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