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ACT No. 263
Regular Session, 2013
HOUSE BILL NO. 630
BY REPRESENTATIVES LEGER, BROSSETT, BURFORD, HENRY BURNS,
JEFFERSON, MORENO, AND PATRICK WILLIAMS AND SENATORS
MORRELL AND THOMPSON
AN ACT1
To amend and reenact R.S. 47:6019(A)(1)(a), (2)(a), and (3)(b)(i)(cc), (B)(1)(a), and (C),2
relative to tax credits for the rehabilitation of historic structures; to provide for3
income and corporation franchise tax credits for costs associated with the4
rehabilitation of historic structures; to provide with respect to definitions; to provide5
for certain notifications and requirements; to extend the taxable periods in which the6
tax credit shall be applicable; to provide for an effective date; and to provide for7
related matters.8
Be it enacted by the Legislature of Louisiana:9
Section 1. R.S. 47:6019(A)(1)(a), (2)(a), and (3)(b)(i)(cc), (B)(1)(a), and (C) are10
hereby amended and reenacted to read as follows:11
ยง6019. Tax credit; rehabilitation of historic structures12
A.(1)(a) There shall be a credit against income and corporation franchise tax13
for the amount of eligible costs and expenses incurred during the rehabilitation of a14
historic structure located in a downtown development or a cultural product district.15
The credit shall not exceed twenty-five percent of the eligible costs and expenses of16
the rehabilitation. No taxpayer, or any entity affiliated with such taxpayer, shall17
receive claim more than five million dollars of credit annually for any number of18
structures rehabilitated within a particular downtown development or cultural19
product district.20
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(2)(a) In order to qualify for the credit, the historic structure located in the22
downtown development or cultural product district shall also be listed on the23 ENROLLEDHB NO. 630
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National Register of Historic Places or be certified by the state historic preservation1
office as contributing to the historical significance of the district.2
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(3)4
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(b)(i)6
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(cc) Transferors and transferees shall submit to the state historic preservation8
office and to the Department of Revenue in writing a notification of any transfer or9
sale of tax credits within thirty days after the transfer or sale of such tax credits. The10
notification shall include the transferor's tax credit balance prior to transfer, the11
credit identification number assigned by the state historic preservation office, the12
remaining balance after transfer, all federal and Louisiana tax identification numbers13
for both transferor and transferee, the date of transfer, the amount transferred, and14
any other information required by the state historic preservation office or the15
Department of Revenue. Failure to comply with this notification provision will result16
in the disallowance of the tax credit until the parties are in full compliance.17
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B.(1) Definitions. For purposes of this Section, the following words and19
phrases shall have the meanings ascribed to them in this Subsection:20
(a) "Cultural product district" shall mean a district designated by a local21
governing authority in accordance with law for the purpose of revitalizing a22
community by creating a hub of cultural activity, including affordable artist housing23
and workspace. The Department of Culture, Recreation and Tourism shall develop24
standard criteria for cultural product districts. Such criteria shall include that the25
district must be geographically contiguous and distinguished by cultural resources26
that play a vital role in the life and cultural development of a community. The district27
shall focus on a cultural compound, a major art institution, art and entertainment28
businesses, an area with arts and cultural activities or cultural or artisan production29
and be engaged in the promotion, preservation, and educational aspects of the arts30 ENROLLEDHB NO. 630
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and culture of the locale and contribute to the public through interpretive and1
educational uses. The Department of Culture, Recreation and Tourism may2
determine whether or not a district complies with this definition.3
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C. The provisions of this Section shall be effective for the taxable years 5
ending prior to January 1, 2016 2018.6
Section 2. This Act shall become effective upon signature by the governor or, if not7
signed by the governor, upon expiration of the time for bills to become law without signature8
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If9
vetoed by the governor and subsequently approved by the legislature, this Act shall become10
effective on the day following such approval.11
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: