The original instrument and the following digest, which constitutes no part of the legislative instrument, were prepared by Laura Gail Sullivan. DIGEST SB 94 Original 2015 Regular Session Morrell Present law provides for the La. New Markets Jobs Act, granting a credit against state premium tax liability for certain investments in low-income community businesses. Provides for definitions, qualifications, application, certification, allocation, and enforcement. Present law provides for the utilization of the credit over a four-year period as a percentage of the amount paid for a qualified investment. Provides for an "applicable percentage" in the first and second years of 14% of the purchase price and in the third and fourth years, 8.5%. Proposed law retains present law for taxable periods beginning before Jan. 1, 2015. For taxable periods beginning on and after Jan. 1, 2015, proposed law provides for utilization of the credit over a six-year period with an "applicable percentage" of 0% for the first three years and 15% for the following three years. Present law provides for a total of $55 million of qualified investments to be certified by the Dept. of Revenue. Proposed law retains present law investments before Aug. 1, 2015, and provides authority for the DOR to certify an additional $100 million for investments on and after Aug. 1, 2015. Present law provides that if a pending request cannot be fully certified due to the dollar limitation, then DOR shall certify the portion of qualified equity investment authority that may be certified unless the taxpayer elects to withdraw the request rather than receive partial certification. Proposed law retains present law. Effective upon signature of the governor or lapse of time for gubernatorial action. (Amends R.S. 47:6016.1(B)(intro para) and (1) and (E)(5))