SLS 15RS-557 ENGROSSED
2015 Regular Session
SENATE BILL NO. 142
BY SENATOR MORRELL
TAX/TAXATION. Authorizes institutions of postsecondary education in the state to
maintain a Movie Industry Student Registry. (1/1/16)
1 AN ACT
2 To amend and reenact R.S. 47:6007(C)(1)(c)(ii) and (D)(5), relative to motion picture
3 investor tax credits; to authorize the payroll of people employed who are listed on
4 a Movie Industry Student Registry to be eligible for the same tax credit granted for
5 the employment of residents; to provide for the creation and maintenance of such
6 registry; and to provide for related matters.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 47:6007(C)(1)(c)(ii) and (D)(5) are hereby amended and reenacted
9 to read as follows:
10 ยง6007. Motion picture investor tax credit
11 * * *
12 C. Investor tax credit; specific productions and projects.
13 (1) There is hereby authorized a tax credit against state income tax for
14 Louisiana taxpayers for investment in state-certified productions. The tax credit shall
15 be earned by investors at the time expenditures are made by a motion picture
16 production company in a state-certified production. However, credits cannot be
17 applied against a tax or transferred until the expenditures are certified by the office
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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. 142
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1 and the secretary. For state-certified productions, expenditures shall be certified no
2 more than twice during the duration of a state-certified production unless the motion
3 picture production company agrees to reimburse the office for the costs of any
4 additional certifications. The tax credit shall be calculated as a percentage of the total
5 base investment dollars certified per project.
6 * * *
7 (c) For state-certified productions approved by the office and the secretary
8 on or after July 1, 2009:
9 * * *
10 (ii)(aa) To the extent that base investment is expended on payroll for
11 Louisiana residents or people listed on a Movie Industry Student Registry
12 employed in connection with a state-certified production, each investor shall be
13 allowed an additional tax credit of five percent of such payroll; provided that the
14 payroll of a resident who is a student shall only be counted once for purposes of
15 this Item. However, if the payroll to any one person exceeds one million dollars, this
16 additional credit shall exclude any salary for that person that exceeds one million
17 dollars.
18 (bb) Each institution of postsecondary education in the state may
19 maintain a Movie Industry Student Registry upon which may be listed the name
20 of any individual who is a student in good standing at the institution or who has
21 matriculated from the institution and is a resident or a former resident, if the
22 institution determines the individual has qualifications that would make that
23 individual a suitable prospect for employment in a state-certified production.
24 * * *
25 D. Certification and administration.
26 * * *
27 (5) A motion picture production company applying for the additional credit
28 for the employment of Louisiana residents must or people listed on a Movie
29 Industry Student Registry shall remit a schedule to the Department of Revenue,
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SLS 15RS-557 ENGROSSED
1 in a machine-sensible format approved by the secretary of the Department of
2 Revenue, that includes the following information: the names of all persons who
3 received salary, wages, or other compensation for services performed in Louisiana
4 in connection with the state-certified production, and the address, taxpayer
5 identification number, permanent address of, and the amount of compensation for
6 services performed in Louisiana received by each such person.
7 * * *
8 Section 2. The provisions of this Act shall be applicable to productions certified for
9 motion picture investor tax credits on and after January 1, 2016.
10 Section 3. This Act shall become effective on January 1, 2016.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Riley Boudreaux.
DIGEST
SB 142 Engrossed 2015 Regular Session Morrell
Present law allows an extra motion picture investor tax credit (in addition to the 30% credit)
of 5% on payroll for Louisiana residents employed in connection with a state-certified
production.
Proposed law allows the 5% resident credit on payroll for people who are listed on a "Movie
Industry Student Registry" provided that the payroll of a resident who is a student can only
be counted once.
Proposed law authorizes each institution of postsecondary education in the state to maintain
the registry upon which may be listed the name of any individual who is a student in good
standing at the institution or who has matriculated from the institution and is a resident or
a former resident, if the institution determines the individual has qualifications that would
make that individual a suitable prospect for employment in a state-certified production.
Applicable to productions certified for tax credits on and after January 1, 2016.
Effective January 1, 2016.
(Amends R.S. 47:6007(C)(1)(c)(ii) and (D)(5))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Revenue and Fiscal
Affairs to the original bill
1. Authorizes institutions of postsecondary education in the state to maintain
the registries instead of the Department of Economic Development.
2. Limits the credit for people who are employed from the registry to residents
unless they are former residents who have matriculated from an in-state
institution.
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.