HLS 15RS-524 REENGROSSED
2015 Regular Session
HOUSE BILL NO. 387
BY REPRESENTATIVES LEGER, BARRAS, BARROW, BOUIE, BURFORD, HENRY
BURNS, HOFFMANN, HUNTER, ROBERT JOHNSON, RITCHIE, STOKES,
THIBAUT, AND WILLMOTT
TAX/INCOME-CREDIT: Extends the sunset of the tax credit for the rehabilitation of
historic structures for nonresidential property and provides eligibility requirements
1 AN ACT
2To amend and reenact R.S. 47:6019(A)(2)(c) and (C) and to enact R.S. 47:6019(A)(1)(c),
3 relative to tax credits; to provide for the tax credit for the rehabilitation of historic
4 structures for nonresidential property; to provide relative to eligibility requirements;
5 to provide for an administrative fee; to extend the sunset of the tax credit; to provide
6 for an effective date; and to provide for related matters.
7Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 47:6019(A)(2)(c) and (C) are hereby amended and reenacted and
9R.S. 47:6019(A)(1)(c) is hereby enacted to read as follows:
10 ยง6019. Tax credit; rehabilitation of historic structures
11 A.(1)
12 * * *
13 (c) The tax credit shall not be allowed for the rehabilitation costs and
14 expenses that are paid for with state or federal funds, unless the state or federal funds
15 are reported as taxable income or are structured as repayable loans.
16 (2)
17 * * *
18 (c) A single fee shall be charged per application by the state historic
19 preservation office and the Department of Revenue, the amount of which shall be
Page 1 of 3
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-524 REENGROSSED
HB NO. 387
1 determined in rules and regulations promulgated by the Department of Culture,
2 Recreation and Tourism, in consultation with the Department of Revenue, in
3 accordance with the Administrative Procedure Act, subject to oversight by the House
4 Committee on Ways and Means and the Senate Committee on Revenue and Fiscal
5 Affairs. The rules and regulations promulgated in accordance with the provisions
6 of this Section shall provide for an equitable distribution of the application fee
7 between the state historic preservation office and the Department of Revenue.
8 * * *
9 C. The provisions of this Section shall be effective for the taxable years
10 ending prior to January 1, 2018 January 1, 2022.
11 Section 2. This Act shall become effective upon signature of the governor, or if not
12signed by the governor, upon expiration of the time for bills to become law without signature
13by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
14vetoed by the governor and subsequently approved by the Legislature, this Act shall become
15effective on the day following such approval by the Legislature.
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)]
HB 387 Reengrossed 2015 Regular Session Leger
Abstract: Extends the sunset for the tax credit for the rehabilitation of nonresidential
historic structures from Jan. 1, 2018 to Jan. 1, 2022 and provides for certain
eligibility requirements.
Present law provides for an income or corporation franchise tax credit for the amount of
eligible costs and expenses incurred during the rehabilitation of a historic structure located
in a downtown development district or a cultural district. Provides for an application fee.
The credit shall not exceed 25% of the eligible costs and expenses and no taxpayer shall
claim more than $5 million of credit annually for any number of structures rehabilitated
within a particular downtown development or cultural district. The credit sunsets on Jan.
1, 2018.
Proposed law retains present law but prohibits those projects whose rehabilitation costs and
expenses are paid for with state or federal funds from being eligible to receive the tax credit,
unless the state or federal funds used are reported as taxable income or are structured as
repayable loans.
Page 2 of 3
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-524 REENGROSSED
HB NO. 387
Proposed law further directs the state historic preservation office to consult with the Dept.
of Revenue in determining the amount of the application fee to be collected and requires that
the application fee be distributed equitably between the entities.
Proposed law changes present law by extending sunset of the program from Jan. 1, 2018 to
taxable years ending prior to Jan. 1, 2022.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 47:6019(A)(2)(c) and (C); Adds R.S. 47:6019(A)(1)(c))
Page 3 of 3
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.