Bill > HB415

This bill amends Louisiana gaming laws to provide enhanced promotional play allowances for gaming operators who make significant capital investments. Specifically, the bill allows gaming operators to receive an additional tax credit for qualifying capital outlays beyond the existing $5 million annual deduction for promotional play wagers. Under the new provisions, a gaming operator can earn a promotional play credit equal to up to 10% of their certified capital outlay or 20% of their gross gaming revenue for that tax year, whichever is larger. Qualifying capital outlays include expenditures made after January 1, 2022, for acquiring lands, buildings, equipment, or improvements to gaming facilities, with a specific provision for moving riverboat gaming facilities to land-based locations. The promotional play credit can be claimed for up to ten consecutive tax years, with any unused credit forfeited after that period. The bill also requires the Louisiana Economic Development department to create a strategic economic development plan with recommendations about gaming taxes and incentives, which must be submitted to the legislature by January 1, 2027. The goal appears to be encouraging gaming operators to invest in infrastructure and facility improvements by providing a financial incentive through expanded tax credits.

Budget and Finance, Justice

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB415&sbi=y