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 690 Original 2021 Regular Session LaCombe
Abstract: Establishes a corporate income tax deduction not to exceed $250,000 per year
for expenditures incurred in the construction, repair, or renovation of capital infrastructure
projects to modernize facilities, to make facilities more energy efficient, or to reduce
emissions.
Proposed law establishes a corporate income tax deduction for expenditures incurred in the
construction, repair, or renovation of capital infrastructure projects to modernize facilities or
movable or immovable equipment, to make facilities or movable or immovable equipment more
energy efficient, or to reduce emissions. Further limits the amount of the deduction to the actual
amount of expenses incurred by the taxpayer or $250,000 per year, whichever is less.
Proposed law provides that the deduction is earned each calendar year to the extent the taxpayer
verifies in writing that expenditures qualifying for the deduction have been expended during the
calendar year for which it is claimed.
Proposed law prohibits the amount of the deduction from reducing the taxpayer's La. taxable income
below zero.
Proposed law provides for the recovery and recapture of amounts claimed as a deduction if the
secretary of the Dept. of Revenue finds that funds for which a taxpayer received a deduction were
not expended on expenditures qualifying for the deduction.
Proposed law authorizes the promulgation of rules in accordance with present law (Administrative
Procedure Act) to implement the provisions of proposed law including rules related to the
submission of documentation when claiming the deduction.
Proposed law prohibits any deduction from being claimed on a tax return, regardless of the tax year
in which the return applies, filed after Dec. 31, 2024.
Applicable for tax years beginning on or after Jan. 1, 2022.
Effective Jan. 1, 2022.
(Adds R.S. 47:287.84)