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)]
CONFERENCE COMMITTEE REP ORT DIGEST
HB 23 2016 First Extraordinary Session Jackson
Keyword and oneliner of the instrument as it left the House
TAX/CORP INCOME: Repeals three-year sunset of certain reductions to corporate income tax
deductions, exemptions, and exclusions (Item #12)
Report adopts Senate amendments to:
1. Make technical changes.
Report amends the bill to:
1. Provide that in the event the Act that originated as House Bill No. 62 of the 2016 First
Extraordinary Session of the Legislature is enacted and becomes effective, the provisions of
Sections 1, 2, and 3 of Act No. 123 of the 2015 Regular Session shall remain in effect
through the termination date in the Act that originated as House Bill No. 62 of the 2016 First
Extraordinary Session of the Legislature.
Digest of the bill as proposed by the Conference Committee
Present law sunsets on June 30, 2018, the 28% reductions made in Act No. 123 of the 2015 R.S. to
the following corporate income tax deductions and exclusions:
(1)R.S. 47:51 Exclusions from gross income; governmental subsidies
(2)R.S. 47:158 Basis for depletion (oil and gas wells)
(3)R.S. 47:246 Corporations; deduction from net income from La. sources
(4)R.S. 47:287.71 Modifications to federal gross income
(5)R.S. 47:287.73 Modifications to deductions from gross income allowed by federal law (6)R.S. 47:287.86 Net operating loss deduction
(7)R.S. 47:287.738 Other inclusions and exclusions from gross income
(8)R.S. 47:287.745 Deductions from gross income; depletion
(9)R.S. 51:3092 Corporation income and franchise tax exemption
Proposed law provides that in the event the Act that originated as House Bill No. 62 of the 2016 First
Extraordinary Session of the Legislature is enacted and becomes effective, the provisions of Sections
1, 2, and 3 of Act No. 123 of the 2015 Regular Session shall remain in effect through the termination
date in the Act that originated as House Bill No. 62 of the 2016 First Extraordinary Session of the
Legislature.
Effective if and when the Act that originated HB No. 62 of the 2016 1E.S. becomes effective.
(Amends §6 and §7 of Act No. 123 of the 2015 R.S.)