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 defines eligible participants and outlines the criteria for businesses to qualify for the credit. The credit amount is set at $2.50 per hour of employment for a maximum of $2,500 per eligible worker, with a cap on the total credits available each year. The bill also specifies the application process for businesses, including a first-come, first-served basis for approval and provisions for proration if applications exceed available credits.

Additionally, the bill modifies the definition of "apprentice" to include various program models and establishes a timeline for when the credits can be earned, specifically 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 hires. The previous credit provisions for apprenticeships are updated to reflect these changes, with the new expiration date for earning credits set to December 31, 2025.

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)