Vote Smart's Synopsis:

Vote to pass and amend a bill that establishes a competitive projects payroll incentive program rebate for COVID-19 impacted businesses.

Highlights:

• Establishes the Competitive Projects Payroll Incentive Program for businesses impacted by  COVID-19 (Sec. 1).

• Establishes a rebate for any eligible businesses impacted by COVID-19 that meets the requirements listed above (Sec. 1).

• Specifies that the amount of the rebate will be based on the benefit rate for each new job and in order to qualify for the rebate the business must create a minimum of 5 new jobs between May 15, 2020, and December 31, 2021, and must create a minimum new annual payroll from new jobs of at least $40,000 before December 31, 2021 (Sec. 1).

• Specifies that in order to determine the number of new jobs eligible for the rebate, the applicant’s employment baseline should be the total number of active full-time and part-time employees at the business’s place of operation who are Louisiana resident on May 14, 2020 (Sec. 1).

• Defines “businesses impacted by COVID-19” as any business that satisfies all of the following criteria (Sec. 1):

• The business is registered to do business in the state of Louisiana; 

• The business is assigned a North American Industry Classification Code of 44, 45, or 72; 

• The business had a physical and active operation in Louisiana on March 13, 2020; and

• The business filed its advance notification on or before December 31, 2021, and included a project start date.

• Specifies that advance notifications for businesses impacted by COVID-19 to include a project start date that precedes the advance notification filing date, but the project date can not be before March 1, 2020, or after December 31, 2021 (Sec. 1).

• Specifies that the term of businesses impacted by COVID-19 contracts will not exceed a 5-year term (Sec. 1).

Full Bill Text