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 508 Original 2017 Regular Session James
Abstract: Provides for a fee for the transfer of a motion picture production tax credit. Establishes
the Louisiana Entertainment Development Fund as a special treasury fund and deposits the
collections from the fee into the fund.
Present law authorizes the transfer of tax credits and requires that the transferor and transferee
submit a notification of the transfer to the Dept. of Revenue.
Present law requires a processing fee of up to $250 per transferee be submitted with the notification.
Proposed law changes the amount of the fee from up to $250 per transferee to 2% of the tax credit
transfer value.
Proposed law creates the Louisiana Entertainment Development Fund and deposits into the fund the
fees required in proposed law.
Proposed law requires 25% of the fund to be appropriated to the Dept. of Revenue for administrative
purposes and 75% to the Dept. of Economic Development for education development initiatives,
matching grants for Louisiana filmmakers, a loan guarantee program, and a deal closing fund.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 47:6007(C)(4)(b); Adds R.S. 47:6007(C)(4)(g))