‘Jindal OKs tax break legislation’

Governor Bobby Jindal has signed into law several tax breaks lawmakers passed in the recently completed legislative session.

The signing ceremonies took place at several Louisiana businesses.

The Advocate reports:

At Sasol North America Inc.’s chemical complex near Lake Charles, Jindal signed legislation that offers payroll rebates and other incentives to businesses.

Senate Bill 72 by state Sen. Mike Michot, R-Lafayette, rewards certain employers with a rebate for paying at least $14.50 an hour in wages and health benefits. Sales tax rebates and investment credits also are possible.

The legislation renews the program, called Louisiana Quality Jobs, for six years.

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Later in the day, the governor signed House Bill 597 at TraceSecurity Inc. in Baton Rouge.

HB597 by state Rep. Michael Jackson, D-Baton Rouge, restarts the Angel Investor Tax Credit Program that ended in 2009.

The program encourages investment in start-up companies.

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