Gov. Bobby Jindal signed two tax breaks Friday as he continued to whittle down the number of bills awaiting his action.
At Sasol North America Inc.’s chemical complex near Lake Charles, Jindal signed legislation that offers payroll rebates and other incentives to businesses.
Senate Bill 72 by state Sen. Mike Michot, R-Lafayette, rewards certain employers with a rebate for paying at least $14.50 an hour in wages and health benefits. Sales tax rebates and investment credits also are possible.
The legislation renews the program, called Louisiana Quality Jobs, for six years.
The Legislative Fiscal Office estimates the program will reduce state government revenue by $25.5 million over five years.
Sasol is receiving payroll and tax incentives through the Quality Jobs program for a $175 million expansion.
Later in the day, the governor signed House Bill 597 at TraceSecurity Inc. in Baton Rouge.
HB597 by state Rep. Michael Jackson, D-Baton Rouge, restarts the Angel Investor Tax Credit Program that ended in 2009.
The program encourages investment in start-up companies.
The Jindal administration said TraceSecurity, a security compliance company, benefited from the tax credit program.
The Legislative Fiscal Office estimated the restarted program could reduce state government revenue by $6 million over five years.
After signing hundreds of bills behind closed doors, the governor is traveling across the state to sign legislation that is important to his administration.
The governor has yet to sign legislation moving the University of New Orleans from the LSU System.
Also still awaiting his signature is a bill expanding the encyclopedia of substances that would be criminalized in the production of so-called bath salts with hallucinogenic effects.