LA HB535

Louisiana's legislative auditor must evaluate and report on each state tax incentive and economic development program at least once every four years, with the initial report due by December 31, 2026.

Cost-benefit analyses must assess job creation, effects on personal income and gross domestic product, and local sales tax revenue impacts on a parish-by-parish basis.

Companies receiving tax incentives may be required to participate in evaluations and verify data; those refusing to submit data or failing to meet contractual obligations may be deemed ineligible for continued benefits.

The ten-year property tax exemption and inventory tax credit are explicitly excluded from the definition of economic development programs subject to evaluation.

R.S. 51:935.1, which required the unified economic development budget report, is repealed in its entirety.