HLS 162ES-48 ORIGINAL
2016 Second Extraordinary Session
HOUSE BILL NO. 26
BY REPRESENTATIVE THIBAUT
TAX CREDITS: Reduces the amount of the income tax credit for purchases from "PIE"
contractors (Item #36)
1 AN ACT
2To amend and reenact R.S. 47:6018(C), relative to income and corporation franchise tax
3 credits; to provide for the amount of certain credits; to provide for applicability and
4 an effective date; and to provide for related matters.
5Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:6018(C) is hereby amended and reenacted to read as follows:
7 ยง6018. Tax credits for purchasers from "PIE contractors"
8 * * *
9 C. The amount of the credit shall be equal to seventy-two seventy percent
10 of the state sales and use tax paid by the purchaser on each case or other unit of
11 apparel during the purchaser's tax year as reflected on the books and records of the
12 purchaser during his tax year.
13 * * *
14 Section 2. Section 1 of this Act shall apply to any return filed for any taxable year
15beginning on or after January 1, 2016.
16 Section 3. This Act shall become effective upon signature by the governor or, if not
17signed by the governor, upon expiration of the time for bills to become law without signature
18by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
19vetoed by the governor and subsequently approved by the legislature, this Act shall become
20effective on the day following such approval.
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 162ES-48 ORIGINAL
HB NO. 26
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)]
HB 26 Original 2016 Second Extraordinary Session Thibaut
Abstract: Reduces the amount of the income and corporation franchise tax credit for
purchasers from "PIE contractors" from 72% of the state sales and use tax paid by
the purchaser to 70%.
Present law provides for an income or corporation franchise tax credit for purchasing
specialty apparel items from a contractor in a certified Private Sector/Prison Industry
Enhancement Program that employs inmates of a La. correctional institution that
manufactures the apparel.
Present law allows a tax credit equal to 72% of the sales and use tax paid for the eligible
specialty apparel items.
Proposed law reduces the amount of the credit from 72% to 70%.
Proposed law is applicable to any return filed for any taxable year beginning on or after Jan.
1, 2016.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 47:6018(C))
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.