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 16 Original 2020 First Extraordinary Session Echols
Abstract: Establishes an additional income and franchise tax credit for 30% of eligible costs and
expenses incurred during the rehabilitation of a historic structure included on the National
Register of Historic Places. Further limits eligible rehabilitation expenses from exceeding
$3.25M and caps the annual amount of credit a taxpayer may claim at $750,000.
Present law authorizes an income and corporation franchise tax credit for the amount of eligible costs
and expenses incurred during the rehabilitation of a historic structure located in a downtown
development district or a cultural district. The amount of the credit is 20% of the eligible costs and
expenses of the rehabilitation incurred before Jan. 1, 2022, and no taxpayer shall claim more than
$5 million of credit annually for any number of structures rehabilitated within a particular downtown
development or cultural district. The credit is effective for taxable years ending prior to Jan. 1, 2022.
Proposed law retains present law but establishes, beginning July 1, 2020, an additional income and
franchise tax credit for eligible costs and expenses incurred during the rehabilitation of a historic
structure included on the National Register of Historic Places as maintained by the National Park
Service. The amount of the credit shall equal 30% of the eligible costs and expenses of rehabilitation
incurred on or after July 1, 2020, and before June 30, 2026. Further limits eligible costs and
expenses of rehabilitation from exceeding $3.25M and caps the annual amount of credit a taxpayer
may claim pursuant to proposed law at $750,000.
Effective July 1, 2020.
(Amends R.S. 47:6019(A)(1)(a))