SLS 15RS-232 ENGROSSED
2015 Regular Session
SENATE BILL NO. 105
BY SENATOR MORRELL AND REPRESENTATIVE TALBOT
TAX/TAXATION. Authorizes the recapture of disallowed tax credits from owners of
entities created or organized for the primary purpose of receiving and/or selling motion
picture investor tax credits. (gov sig)
1 AN ACT
2 To amend and reenact R.S. 47:6007(F), relative to motion picture investor tax credits; to
3 authorize the recapture of such tax credits from owners of certain entities; and to
4 provide for related matters.
5 Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:6007(F) is hereby amended and reenacted to read as follows:
7 ยง6007. Motion picture investor tax credit
8 * * *
9 F. Recovery of credits by Department of Revenue. (1)(a) Credits previously
10 granted to a taxpayer, but later disallowed, may be recovered by the secretary of the
11 Department of Revenue through any collection remedy authorized by R.S. 47:1561
12 and initiated within three years from December thirty-first of the year in which the
13 twenty-four-month investment period specified in Subsection E of this Section ends.
14 (b) Notwithstanding any other provision of law to the contrary, if a
15 corporation, limited liability company, or limited partnership was created or
16 organized for the purpose of receiving and/or selling tax credits granted
17 pursuant to this Section, the secretary of the Department of Revenue may, as an
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 105
SLS 15RS-232 ENGROSSED
1 alternative means of enforcing recovery of such credits, hold any person who
2 has an ownership interest in such an entity personally liable for the total
3 amount of such credits together with any interest accruing thereon.
4 * * *
5 Section 2. This Act shall become effective upon signature by the governor or, if not
6 signed by the governor, upon expiration of the time for bills to become law without signature
7 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
8 vetoed by the governor and subsequently approved by the legislature, this Act shall become
9 effective on the day following such approval.
The original instrument was prepared by Riley Boudreaux. The following
digest, which does not constitute a part of the legislative instrument, was
prepared by Laura Gail Sullivan.
DIGEST
SB 105 Engrossed 2015 Regular Session Morrell
Proposed law authorizes the secretary of the Department of Revenue to hold any person who
has an ownership interest in a corporation, limited liability company, or limited partnership
which was created or organized for the purpose of receiving and/or selling tax credits
personally liable for the total amount of such credits as an alternative means of enforcing
recovery of disallowed credits.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 47:6007(F))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Revenue and Fiscal
Affairs to the original bill
1. Changed proposed law from applying to entities organized "for the primary
purpose" of receiving and/or selling tax credits to applying to entities
organized "for the purpose" of receiving and/or selling the credits.
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.