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Bill > HB37

LA HB37

LA HB37
Authorizes an income tax credit for certain businesses whose operations were interrupted as a result of the COVID-19 pandemic (Items #26 and 65) (EN DECREASE GF RV See Note)

summary

Introduced
09/28/2020
In Committee
10/19/2020
Crossed Over
10/13/2020
Passed
10/21/2020
Dead
Vetoed
11/11/2020

Introduced Session

2020 Second Extraordinary Session

Bill Summary

AN ACT To enact R.S. 47:6041, relative to income tax credits; to authorize an income tax credit for certain businesses; to provide for the amount of the credit; to provide for requirements and limitations; to authorize the carryforward of unused amounts of the credit; to provide for the claiming of credits; to provide for applicability; to provide for an effective date; and to provide for related matters.

AI Summary

This bill authorizes a one-time income tax credit for Louisiana businesses that operate restaurants or establishments licensed to sell or serve alcoholic beverages for consumption on their premises, if their total sales from March 1, 2020, through December 31, 2020, were less than their total sales from March 1, 2019, through December 31, 2019, due to the COVID-19 pandemic interrupting their operations. The credit amount equals the annual state license or permit fees paid by the business for 2020. Businesses that started operations on or after August 1, 2019, are also eligible for the credit. Unused credit amounts can be carried forward for up to three years. The bill applies to income tax periods beginning on or after January 1, 2020.

Committee Categories

Budget and Finance

Sponsors (3)

Last Action

Vetoed by the Governor. (on 11/11/2020)

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Document Type Source Location Created
State Bill Page http://www.legis.la.gov/legis/BillInfo.aspx?s=202ES&b=HB37&sbi=y 09/29/2020
Analysis - Resume Digest for HB37 http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1195978 12/01/2020
HB37 Veto Message http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1195316 11/13/2020
Fiscal Note - HB37 Enrolled http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1193977 10/22/2020
BillText http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1193594 10/21/2020
Fiscal Note - HB37 ReEngrossed http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1193024 10/17/2020
BillText http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1191989 10/13/2020
Analysis - Digest of HB37 Reengrossed http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1192032 10/13/2020
House Floor Amendment #334 Beaullieu Adopted http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1190998 10/13/2020
Fiscal Note - HB37 Engrossed http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1191108 10/07/2020
House Committee Amendment #278 W&M Draft http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1190646 10/06/2020
House Committee Amendment #313 W&M Adopted http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1190776 10/06/2020
BillText http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1190850 10/06/2020
Analysis - Digest of HB37 Engrossed http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1190899 10/06/2020
Fiscal Note - HB37 Original http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1190591 10/03/2020
BillText http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1189329 09/29/2020
Analysis - Digest of HB37 Original http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1189331 09/29/2020
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