Bill > SB133

This bill adds a new subsection (F) to Louisiana Revised Statute 23:631, which relates to employee wages and payment after termination of employment. Specifically, the bill creates an exemption stating that the existing provisions regarding employee payment (including those in R.S. 23:631 and R.S. 23:634) will not apply to profits interests granted or issued by entities taxed as partnerships for federal income tax purposes. A profits interest is a type of ownership stake in a partnership that represents the right to share in the future growth and value of the business, rather than its current value. This exemption means that for these specific types of business entities, the standard state regulations about employee wage payments upon termination may not be enforced, potentially providing more flexibility for partnerships in how they handle compensation and ownership interests for employees.

Labor and Employment

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=SB133&sbi=y