HLS 15RS-1113 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 660
BY REPRESENTATIVE ST. GERMAIN
TAX CREDITS: Establishes an annual cap on the motion picture investor income tax credit
1 AN ACT
2To enact R.S. 47:6007(C)(1)(e), relative to income tax credits; to provide with respect to the
3 motion picture investor income tax credit; to provide for an annual program cap for
4 the motion picture investor tax credit; to provide for the promulgation of rules and
5 regulations; to provide for an effective date; and to provide for related matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 47:6007(C)(1)(e) is hereby enacted to read as follows:
8 ยง6007. Motion picture investor tax credit
9 * * *
10 C. Investor tax credit; specific productions and projects.
11 (1)
12 * * *
13 (e) Beginning January 1, 2016, the aggregate amount of credits certified for
14 all investors pursuant to this Section during any calendar year shall not exceed one
15 hundred million dollars. An application for initial certification of a project shall be
16 submitted to the office prior to the granting of the credit, and the granting of credits
17 under this Section shall be on a first-come, first-served basis. If the total amount of
18 credits applied for in any particular year exceeds the aggregate amount of tax credits
19 allowed for that year, the excess shall be treated as having been applied for on the
20 first day of the subsequent year. The secretary shall provide for the administration
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-1113 ORIGINAL
HB NO. 660
1 of the annual aggregate maximum amount of credits certified by the office through
2 rules and regulations promulgated in accordance with the Administrative Procedure
3 Act, subject to oversight by the House Committee on Ways and Means and the
4 Senate Committee on Revenue and Fiscal Affairs.
5 * * *
6 Section 2. This Act shall become effective on January 1, 2016; if vetoed by the
7governor and subsequently approved by the Legislature, this Act shall become effective on
8January 1, 2016, or on the day following such approval by the Legislature, whichever is
9later.
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 660 Original 2015 Regular Session St. Germain
Abstract: Beginning Jan. 1, 2016, establishes an annual $100 million program cap on the
amount of motion picture investor tax credits certified by the office.
Present law provides for an income tax credit for La. taxpayers for investment in state-
certified productions earned at the time expenditures are made by a motion picture
production company in a state-certified production.The amount of the credit shall be equal
to 30% of the base investment made by the investor if the total base investment is more than
$300,000. Additionally provides for a credit equal to 5% of base investment expended on
payroll for La. residents employed in connection with a state-certified production. However,
this credit does not apply to the payroll of any one person that exceeds $1 million dollars.
Proposed law retains present law but limits the program to an annual $100 million cap in tax
credits that may be certified each year. Credits shall be granted on a first-come, first-served
basis. If the total amount of credits applied for in any particular year exceeds the aggregate
amount of credits allowed for that year, the excess shall be treated as having been applied
for on the first day of the subsequent year.
Proposed law requires the secretary to promulgate rules and regulations for administration
of the annual cap in accordance with the procedures of the Administrative Procedures Act,
subject to oversight by the House Ways and Means Committee and the Senate Revenue and
Fiscal Affairs Committee.
Effective Jan. 1. 2016.
(Adds R.S. 47:6007(C)(1)(e))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.