LA HB415

Gaming operators currently may deduct $5 million annually in promotional play wagers from taxable gaming revenue; this bill allows additional promotional play credits for operators making qualifying capital investments

Promotional play credit equals the total dollar amount of qualifying capital outlays, capped annually at 10% of the certified capital outlay or 20% of the operator's gross gaming revenue, whichever is greater

Qualifying capital outlays include expenditures made on or after January 1, 2022, for land, buildings, equipment (including slot machines), facility improvements, or moving riverboat gaming facilities landside

Credits may be claimed for up to 10 taxable years from certification; any unused credit after 10 years is forfeited

Louisiana Economic Development must create and submit a strategic economic development plan with recommendations on gaming taxes and incentives by January 1, 2027