DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of
the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of
the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Moreno HB No. 501
Abstract: Extends the sunset of the base investment credit for the musical and theatrical
production income tax credit for projects which receive initial certification no later than
Dec. 31, 2013.
Present law authorizes various income tax credits related to musical and theatrical production
development in La. A base investment credit may be granted for certified, verified, and approved
expenditures for the construction, repair, or renovation of certain infrastructure projects,
including certain investments made therein. The maximum authorized credit per project is $10
million. The tax credit sunsets Dec. 31, 2013.
Proposed law retains present law and extends the sunset date for projects which receive initial
certification no later than Dec. 31, 2013. The tax credit may be granted until Jan. 1, 2015, for
such projects.
(Amends R.S. 47:6034(C)(1)(a)(ii)(aa))