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 Engrossed 2017 Regular Session James
Abstract: Provides for a fee for the transfer of a motion picture production tax credit. Establishes
the La. 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 $200 for requests to
transfer filed with the office prior to July 1, 2017, and 2% of the tax credit transfer value for requests
to transfer filed on or after July 1, 2017.
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 if and when Senate Bill No. 254 of this 2017 R.S. is enacted and becomes effective.
(Amends R.S. 47:6007(C)(4)(b); Adds R.S. 47:6007(C)(4)(g))
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Ways and Means to the original
bill:
1. Change the fee requirement for the notification of transfer from 2% of the tax credit
transfer value to $200 for projects that apply for transfer prior to July 1, 2017, and 2%
of the tax credit transfer value for projects that apply for transfer on or after July 1, 2017.
2. Change the effective date from upon signature of the governor to conditional
effectiveness if Senate Bill No. 254 from the 2017 R.S. of the Legislature is enacted and
becomes effective.