Oh no poor SASOL

I didn't realize the plant that just opened had been been grandfathered in to new ITEP rules.

So far, the Lake Charles chemical production plants have "quickly shown capability to run at full range," Thomas said.

Sasol's economic incentive application for the state's Industrial Ad Valorem Tax Exemption Program, known as ITEP, where companies get a 10-year property tax abatement, was grandfathered in when the program being revamped in June 2018.

They're paying zero in property taxes for 10 years (at least.) That's working well for them. So well, in fact, they are making plans to expand production.  Better look out, though. Under the new rules the next facilities will only be exempt from almost all of their taxes.

If Sasol follows through with plans for an expansion, the company would be eligible for no more than 80% of its property tax bill being forgiven for 10 years under new rules. That means local taxing entities would see a boost in property taxes during the first year.

But, again, it's going well for them and they're planning for expansion now even as they apply for exemptions under the new rules. So what is this even the point of this back and forth?

Sasol's executive was asked by a Commerce and Industry Board member whether the company would still be able to turn a profit if it had only been awarded a 10-year property tax abatement of only 80% rather than 100% when it planned the facility that is being built.

"If we had proposed a lesser incentive … I would have to run the numbers, but I can say this, it's much less likely that we would have (invested in Louisiana)," Thomas said

But you are applying for a new ITEP now.  Not gonna "run the numbers" on that yet? 

Update:  In a somewhat related matter, Governor Edwards, whose administration has overseen the expansion of heavily subsidized chemical facilities and oil and gas infrastructure held a campaign kickoff event today in New Orleans. According to Uptown Messenger there were at least three protesters on hand.