- Associated Press - Tuesday, May 12, 2015

LAFAYETTE, La. (AP) - A state board exempted some Lafayette Parish businesses from paying millions in local taxes in 2013.

The Advertiser reports (https://bit.ly/1AS2CjF) the Louisiana Economic Development’s Board of Commerce and Industry, not local governing bodies, approved the exemptions that waived local property taxes. In 2013 those exemptions amounted to $5.4 million over a 10-year period.

The board says in exchange the recipients made capital investments ranging from $50,000 to $16 million. Their applications said they’d create 369 local jobs, but that was not a requirement.

Oil and gas service industry giant Halliburton was awarded $2 million in local property tax exemptions for its Lafayette Parish operations over 10 years. Halliburton promised a $16 million investment and 48 new jobs.

State legislators are currently trying to overcome a $940 million shortfall in the 2016 budget.

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Information from: The Advertiser, https://www.theadvertiser.com


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