The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Ben Huxen.
DIGEST
SB 78 Original 2017 Regular Session Luneau
Present law authorizes a tax credit against state income tax based on motion picture production
expenditures for state-certified productions. The tax credit is calculated as a percentage of the total
base investment dollars certified per project.
Proposed law limits the credit to productions granted initial certification on or before June 30, 2017.
Present law, until Fiscal Year 2018-2019, caps the maximum amount of credits that may be certified
annually for the program by the office and the secretary at $180 million and caps the amount of
credits available for any single state-certified production at $30 million. Additionally provides that
if the total amount of credits certified for a year exceeds the maximum amount of credits allowed
for that year, the excess shall be treated as having been applied for on the first day of the subsequent
year.
Proposed law makes both caps permanent by eliminating the Fiscal Year 2018-2019 sunsets.
Effective on July 1, 2017.
(Amends R.S. 47:6007(B)(26) and (C)(1)(d)(i) and (ii)(aa); repeals R.S. 47:6007(C)(1)(d)(ii)(cc))