LA HB507

Establishes the High Impact Jobs Program within Louisiana Economic Development to provide reimbursable grants to companies creating jobs that pay above parish average wages and offer health benefits

Grant amounts range from 8% to 22% of annualized wages (capped at $200,000 per job per year), with higher percentages for jobs paying 125-150% or 150%+ of parish average wages

Qualifying jobs must be new, full-time positions filled by Louisiana residents, include basic health benefits within 90 days of hiring, and cannot be seasonal or temporary

Excludes gaming, retail, professional sports teams, government enterprises, and automotive rental/leasing companies from program eligibility

Creates the High Impact Job Fund in state treasury; program effective July 1, 2025, with first grants issued on or after July 1, 2026, and no new applications accepted after July 1, 2035