ENROLLED
ACT No. 426
2023 Regular Session
HOUSE BILL NO. 483
BY REPRESENTATIVES MAGEE AND KNOX
1 AN ACT
2 To amend and reenact R.S. 47:6019(A)(1)(a), (B)(1)(introductory paragraph), and (C) and
3 to enact R.S. 47:6019(B)(1)(d) and (e), relative to credits against income and
4 corporation franchise tax; to provide relative to the tax credit for rehabilitation of
5 historic structures; to extend the duration of the rehabilitation of historic structures
6 tax credit program; to expand eligibility for tax credits through the program to
7 encompass additional historic structures; to provide for the amount of the credit for
8 rehabilitation of certain historic structures; to provide for definitions; and to provide
9 for related matters.
10 Be it enacted by the Legislature of Louisiana:
11 Section 1. R.S. 47:6019(A)(1)(a), (B)(1)(introductory paragraph), and (C) are hereby
12 amended and reenacted and R.S. 47:6019(B)(1)(d) and (e) are hereby enacted to read as
13 follows:
14 ยง6019. Tax credit; rehabilitation of historic structures
15 A.(1)(a)(i) There shall be a credit against income and corporation franchise
16 tax for the amount of eligible costs and expenses incurred during the rehabilitation
17 of a historic structure located in a downtown development district, or located in a
18 cultural district, or contributing to the National Register of Historic Places. The
19 amount of the credit shall equal twenty-five percent of the eligible costs and
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1 expenses of the rehabilitation incurred prior to January 1, 2018, regardless of the
2 year in which the property is placed in service. The amount of the credit shall equal
3 twenty percent of the eligible costs and expenses of the rehabilitation incurred on or
4 after January 1, 2018, and before January 1, 2026 2023, regardless of the year in
5 which the property is placed in service. The amount of the credit shall equal
6 twenty-five percent of the eligible costs and expenses of the rehabilitation incurred
7 on or after January 1, 2023, and before January 1, 2029, regardless of the year in
8 which the property is placed in service. No credit is authorized pursuant to this
9 Section for expenses incurred on or after January 1, 2026 2029.
10 (ii) For the rehabilitation of a historic structure that meets the requirements
11 of Item (i) of this Subparagraph and is located in a rural area, the amount of the
12 credit shall equal thirty-five percent of the eligible costs and expenses of the
13 rehabilitation incurred on or after January 1, 2023, and before January 1, 2029.
14 * * *
15 B.(1) For purposes of this Section, the following words and phrases shall
16 have the meanings ascribed to them in this Subsection Paragraph:
17 * * *
18 (d) "Contributing to the National Register of Historic Places" means listed
19 or deemed as a contributing element within a National Register Historic District as
20 determined by the National Park Service.
21 (e) "Rural area" means any of the following:
22 (i) A parish of this state with a population of less than one hundred thousand
23 according to the most recent federal decennial census.
24 (ii) A municipality of this state with a population of less than thirty-five
25 thousand according to the most recent federal decennial census.
26 (iii) An unincorporated area of a parish of this state, which parish has a
27 population of one hundred thousand or more according to the most recent federal
28 decennial census.
29 * * *
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1 C. The provisions of this Section shall be effective for the taxable years
2 ending prior to January 1, 2026 2029.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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