HLS 20RS-1590 ENGROSSED
2020 Regular Session
HOUSE CONCURRENT RESOL UTION NO. 76
BY REPRESENTATIVE WRIGHT
TAX/CORP INCOME: Urges and requests that any proclamation convening an
extraordinary session of the legislature in 2020 include changes to the carryback
provisions of the corporate income tax deduction for net operating losses
1 A CONCURRENT RESOL UTION
2To urge and request that changes to the carryback provisions of the corporate income tax
3 deduction for net operating losses to mirror the carryback provisions of the net
4 operating loss deduction adopted in the federal CARES Act be included in any
5 proclamation convening an extraordinary session of the legislature in 2020.
6 WHEREAS, on March 11, 2020, Governor John Bel Edwards invoked his authority
7under the Louisiana Health Emergency Powers Act, La. R.S. 29:760, et seq., to issue
8Emergency Proclamation Number 25 JBE 2020, which declared a statewide public health
9emergency as a result of the imminent threat posed to Louisiana citizens by the outbreak of
10a respiratory disease caused by the novel coronavirus known as COVID-19; and
11 WHEREAS, on March 13, 2020, the governor issued Emergency Proclamation
12Number 27 JBE 2020, which supplemented the measures taken in Emergency Proclamation
13Number 25 JBE 2020 with additional restrictions to further protect the health and safety of
14the public and expressly provided for "'emergency-related claims'. . . for unemployment
15compensation filed by persons whose unemployment is directly due to the impact of
16COVID-19 or due to their inability to get their job or worksite because they are sick, isolated
17or quarantined, caring for a sick family member, or when an employee's child's school is
18closed as determined by the administrator of the state's unemployment compensation
19program"; and
Page 1 of 3 HLS 20RS-1590 ENGROSSED
HCR NO. 76
1 WHEREAS, on March 22, 2020, the governor issued Emergency Proclamation
2Number 33 JBE 2020 which implemented a general stay-at-home order to the public and
3additional measures including the temporary closure of certain businesses, further limiting
4the operations of certain non-essential businesses to the public in an effort to mitigate the
5impact of COVID-19 and to disrupt the spread of the virus; and
6 WHEREAS, these businesses have experienced serious hardship and financial
7disruption due to COVID-19 impacts on their operations and workforces; and
8 WHEREAS, the financial impact of the unprecedented COVID-19 pandemic on these
9businesses has been severe and could subject them to economic losses; and
10 WHEREAS, the ability of these businesses to expeditiously return to their previous
11levels of operation is critical to Louisiana's economy, as well as preserving state and local
12government revenues; and
13 WHEREAS, the initial months of their operation will present cashflow challenges
14that may impair their reengagement in their commercial activity and, in some cases, even
15result in their failure to remain in business; and
16 WHEREAS, changes to the state net operating loss carryback provisions are
17necessary in order for the state deduction to mirror the net operating loss provisions included
18in the federal Coronavirus Aid, Relief, and Economic Security Act "CARES Act", P.L. 116-
19136, will assist businesses in overcoming the cashflow issues they will face.
20 THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby
21urge and request that changes to the carryback provisions of the corporate income tax
22deduction for net operating losses to mirror the carryback provisions of the net operating loss
23deduction adopted in the federal CARES Act be included in any proclamation convening an
24extraordinary session of the legislature in 2020.
25 BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
26governor of the state of Louisiana, the speaker of the House of Representatives, and the
27president of the Senate.
Page 2 of 3 HLS 20RS-1590 ENGROSSED
HCR NO. 76
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)]
HCR 76 Engrossed 2020 Regular Session Wright
Urges and requests that changes to the carryback provisions of the corporate income tax
deduction for net operating losses to mirror the carryback provisions of the net operating loss
deduction adopted in the federal CARES Act be included in any proclamation convening an
E.S. of the legislature in 2020.
Page 3 of 3