SLS 15RS-541 ORIGINAL
2015 Regular Session
SENATE BILL NO. 189
BY SENATOR MURRAY
TAX/TAXATION. Removes end date on applicability of certain tax credits for
rehabilitation of certain residential and historic structures. (8/1/15)
1 AN ACT
2 To repeal R.S. 47:297.6(C) and 6019(C), relative to tax credits for rehabilitation of certain
3 residential or historic structures; to provide for applicability of the credits; and to
4 provide for related matters.
5 Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:297.6(C) and 6019(C) are hereby repealed in their entirety.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Thomas L. Tyler.
DIGEST
SB 189 Original 2015 Regular Session Murray
Present law provides a tax credit against individual income taxes for the amount of eligible
costs and expenses incurred during the rehabilitation of an owner-occupied residential or
owner-occupied mixed use structure located in a National Register Historic District, a local
historic district, a Main Street District, a cultural products district, or a downtown
development district, or an owner-occupied residential structure which has been listed or is
eligible for listing on the National Register, or a structure which has been certified by the
State Historic Preservation Office as contributing to the historical significance of the district,
or a vacant and blighted owner-occupied residential structure located anywhere in the state
that is at least 50 years old. Provides that the credit is limited to one credit per structure
rehabilitated. Provides that the total credit not exceed $25,000 per structure and that the
rehabilitation costs must exceed $10,000. Proposed law retains these provision.
Present law provides that this credit is effective for taxable years ending prior to Jan. 1,
2015.
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 189
SLS 15RS-541 ORIGINAL
Proposed law removes this end date on the applicability of the tax credit.
Present law provides a credit against income and corporation franchise tax for the amount
of eligible costs and expenses incurred during the rehabilitation of a historic structure located
in a downtown development or a cultural district. Provides that the credit not exceed 25%
of the eligible costs and expenses of the rehabilitation and that no taxpayer, or any entity
affiliated with the taxpayer, shall claim more than $5,000,000 annually for any number of
structures rehabilitated within a particular downtown development or cultural district.
Requires that to qualify for the credit, the historic structure be located in the downtown
development or cultural district and that it be listed on the National Register of Historic
Places or be certified by the state historic preservation office as contributing to the historical
significance of the district. Proposed law retains these provisions.
Present law provides that this credit is effective for taxable years ending prior to Jan. 1,
2015.
Proposed law removes this end date on the applicability of the tax credit.
Effective August 1, 2015.
(Repeals R.S. 47:297.6(C) and 6019(C))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.