The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Leonore Heavey.
DIGEST
SB 222 Original 2019 Regular Session Riser
Present law authorizes an income or corporation franchise tax credit for the amount of eligible costs
and expense incurred during the rehabilitation of a historic structure located in a downtown
development district or cultural district.
Present law provides that the amount of the credit shall equal 20% of eligible costs and expenses
incurred on or after Jan. 1, 2018, but before Jan. 1, 2022. No credit is authorized for expenses
incurred on or after Jan. 1, 2022.
Proposed law retains present law as it pertains to the amount of the credit but extends the eligibility
date of expenses from before Jan. 1, 2022, to Jan. 1, 2026, and extends the sunset date of the
program from taxable years ending prior to Jan. 1, 2022, to taxable years ending prior to Jan. 1,
2026.
Effective upon the signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 47:6019(A)(1)(a) and (C))