RESUMEHB358 2308 4877
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Abramson (HB 358) Act No. 385
Existing law provides for the issuance of tax credits, until Jan. 1, 2015, against state income
tax for investments made in state-certified productions and state-certified musical recording
infrastructure projects. The tax credit shall be earned by investors at the time expenditures
are certified by the Dept. of Economic Development according to the total base investment
certified for the sound recording production company per calendar year. Prior law prohibits
a sound recording company from earning a tax credit for which a credit was granted for
motion picture tax credits.
New law changes the sunset date for issuance of tax credits from Jan. 1, 2015 to Jan. 1, 2020.
Existing law further authorizes a tax credit for 25% of the base investment of an investor
made by that investor in excess of $15,000 for state-certified productions certified on and
after July 1, 2007, and state-certified infrastructure projects certified on or before Aug. 1,
2009.
New law reduces the threshold from $15,000 to $5,000 for La. residents.
Effective August 1, 2013.
(Amends R.S. 47:6023(C)(1))