RÉSUMÉ DIGEST
ACT 251 (SB 69) 2023 Regular Session Foil
Existing law authorizes an income and corporation franchise tax credit in an amount equal
to 30% of the award received during the tax year for a taxpayer who receives a Phase I or II
grant from the federal Small Business Technology Transfer Program or a federal Small
Business Innovation Research Grant as created by the Small Business Innovation
Development Act of 1982, reauthorized by the Small Business Research and Development
Enhancement Act, and reauthorized again by the Small Business Reauthorization Act of
2000.
New law adds a reference to the latest reauthorization of the federal grant programs by the
SBIR and STTR Extension Act of 2022 and otherwise retains existing law.
Prior law prohibited the payment of credits for research expenditures incurred, Small
Business Technology Transfer Program funds received or Small Business Innovation
Research Grant funds received after December 31, 2025.
New law extends the sunset of the credit from December 31, 2025, to December 31, 2029.
Effective June 12, 2023.
(Amends R.S. 47:6015(D)(1) and (J))