The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Leonore Heavey.
DIGEST
SB 79 Engrossed 2017 Regular Session Luneau
Present law provides for a three-year 28% reduction of the following income and corporation
franchise tax credits effective through June 30, 2018:
(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. 47:265 Credits arising from refunds by utilities
(6)R.S. 47:287.664 Credits arising from refunds by utilities
(7)R.S. 47:287.748 Corporation tax credit; re-entrant jobs credit
(8)R.S. 47:287.749 Jobs credit
(9)R.S. 47:287.752 Credit for employment of first-time nonviolent offenders
(10)R.S. 47:287.753 Neighborhood assistance tax credit
(11)R.S. 47:287.755 Credit for contributions to educational institutions
(12)R.S. 47:287.758 Credit for bone marrow donor expense
(13)R.S. 47:287.759 Credit for employee and dependent health insurance coverage
(14)R.S. 47:297 Miscellaneous income tax credits for individuals
(15)R.S. 47:297.6 Credit for rehabilitation of residential structures
(16)R.S. 47:297.9 Certain military service members and dependents hunting and fishing licenses
(17)R.S. 47:6004 Employer Credit (18)R.S. 47:6005 Qualified new recycling manufacturing equipment and service contracts
(19)R.S. 47:6008 Credit for donations to assist playgrounds in economically depressed areas
(20)R.S. 47:6009 Louisiana Basic Skills Training Tax Credit
(21)R.S. 47:6012 Employer tax credits for donations of materials, equipment, advisors, or
instructors
(22)R.S. 47:6013 Credit for donations to public schools
(23)R.S. 47:6017 Credit for expenses paid by economic development corporations
(24)R.S. 47:6018 Credit for purchasers from "PIE contractors"
(25)R.S. 47:6020 Angel Investor tax credit program
(26)R.S. 47:6022 Digital interactive media and software tax credit
(27)R.S. 47:6023 Sound recording investor tax credit
(28)R.S. 47:6025 Credit for La. Citizens Property Insurance Corp. assessment
(29)R.S. 47:6026 Cane River heritage tax credit
(30)R.S. 47:6032 Credit for certain milk producers
(31)R.S. 47:6034 Musical and theatrical production income tax credit
(32)R.S. 47:6035 Credit for conversion of vehicles to alternative fuel usage
(33)R.S. 47:6037 Credit for "green job industries"
(34)R.S. 51:1807 Incentives (Urban Revitalization)
(35)R.S. 51:2354 Technology commercialization credit
(36)R.S. 51:2399.3 Modernization tax credit
Proposed law repeals the three-year sunset on the 28% reductions to tax credits in Acts 2015, No.
125 as amended by Acts 2016, 1st E.S., No. 29, other than the reduction for the insurance premium
tax offset against corporation income tax, thereby making the reductions permanent.
Effective upon signature of the governor or lapse of time for gubernatorial action. (Amends Acts 2015, No. 125 §8 as amended by Acts 2016 1st E.S., No. 29 §2; repeals Acts 2015,
No. 125 §4, 5, and 6)
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Revenue and Fiscal Affairs to
the original bill
1. Permanently removes the 28% reduction from the offset against the corporate income
tax for insurance premium tax paid.