GREEN SHEET REDIGEST
HB 24 2016 First Extraordinary Session Jackson
(KEYWORD, SUMMARY, AND DIGEST as amended by Senate committee
amendments)
TAX CREDITS. Repeals the three-year sunset of certain reductions to income and
corporation franchise tax credits (Item #10).
DIGEST
Present law sunsets on June 30, 2018, the 28% reductions made in Act No. 125 of the 2015
R.S. to the following tax credits:
(1)R.S. 25:1226.4 Atchafalaya Trace Heritage Area Development Zone tax credit
(2)R.S. 47:34 Corporation tax credit
(3)R.S. 47:35 Neighborhood assistance tax credit
(4)R.S. 47:37 Credit for contributions to educational institutions
(5)R.S. 47:227 Offset against tax; insurance premium
(6)R.S. 47:265 Credits arising from refunds by utilities
(7)R.S. 47:287.664 Credits arising from refunds by utilities
(8)R.S. 47:287.748 Corporation tax credit; re-entrant jobs credit
(9)R.S. 47:287.749 Jobs credit
(10)R.S. 47:287.752 Credit for employment of first-time nonviolent offenders
(11)R.S. 47:287.753 Neighborhood assistance tax credit
(12)R.S. 47:287.755 Credit for contributions to educational institutions
(13)R.S. 47:287.758 Credit for bone marrow donor expense
(14)R.S. 47:287.759 Credit for employee and dependent health insurance coverage
(15)R.S. 47:297 Reduction to tax due
(16)R.S. 47:297.6 Credit for rehabilitation of residential structures
(17)R.S. 47:297.9 Certain military service member's and dependent's hunting and fishing
licenses
(18)R.S. 47:6004 Employer Credit
(19)R.S. 47:6005 Qualified new recycling manufacturing equipment and service contracts
(20)R.S. 47:6008 Credit for donations to assist playgrounds in economically depressed
areas
(21)R.S. 47:6009 Louisiana Basic Skills Training Tax Credit
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Prepared by Thomas L. Tyler. (22)R.S. 47:6012 Employer tax credits for donations of materials, equipment, advisors,
or instructors
(23)R.S. 47:6013 Credit for donations to public schools
(24)R.S. 47:6017 Credit for expenses paid by economic development corporations
(25)R.S. 47:6018 Credit for purchasers from "PIE contractors"
(26)R.S. 47:6020 Angel Investor tax credit program
(27)R.S. 47:6022 Digital interactive media and software tax credit
(28)R.S. 47:6023 Sound recording investor tax credit
(29)R.S. 47:6025 Credit for La. Citizens Property Insurance Corp. assessment
(30)R.S. 47:6026 Cane River heritage tax credit
(31)R.S. 47:6032 Credit for certain milk producers
(32)R.S. 47:6034 Musical and theatrical production income tax credit
(33)R.S. 47:6035 Credit for conversion of vehicles to alternative fuel usage
(34)R.S. 47:6037 Credit for "green job industries"
(35)R.S. 51:1807 Incentives (Urban Revitalization)
(36)R.S. 51:2354 Technology commercialization credit
(37)R.S. 51:2399.3 Modernization tax credit
Proposed law removes the specific sunset date of June 30, 2018.
Proposed law extends the modifications in present law through the sunset date of the
provisions of the Act that originated as House Bill No. 62 of the 2016 First Extraordinary
Session of the Legislature of Louisiana, if House Bill No. 62 becomes effective.
Effective only if and when the Act that originated as House Bill No. 62 of this 2016 First
Extraordinary Session of the Legislature of Louisiana becomes effective.
(Amends R.S. 47:227 and 6034(C)(1)(a)(ii)(bb)(II), (c)(ii), and (d)(ii), and §§7 and 8 of Act
No. 125 of the 2015 R.S.)
Summary of Amendments Adopted by House
The House Floor Amendments to the engrossed bill:
1. Delete the provisions of proposed law that repealed the sunset provisions of Act
No. 126 of 2015 R.S.
2. Extend the modifications made in Act No. 126 of 2015 R.S. if the Act that
originated as House Bill No. 62 of the 2016 First Extraordinary Session of the
Legislature of Louisiana becomes effective.
(Amends R.S. 47:227 and 6034(C)(1)(a)(ii)(bb)(II), (c)(ii), and (d)(ii), and §§7 and 8 of Act
No. 125 of the 2015 R.S.)
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Prepared by Thomas L. Tyler. Summary of Amendments Adopted by House
The House Floor Amendments to the engrossed bill:
1. Delete the provisions of proposed law that repealed the sunset provisions of Act
No. 126 of 2015 R.S.
2. Extend the modifications made in Act No. 126 of 2015 R.S. if the Act that
originated as House Bill No. 62 of the 2016 First Extraordinary Session of the
Legislature of Louisiana becomes effective.
Committee Amendments Proposed by Senate Committee on Revenue and Fiscal Affairs
to the reengrossed bill
1. Removes the specific sunset date of June 30, 2018.
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Prepared by Thomas L. Tyler.