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Bill > SB186

LA SB186

LA SB186
Provides relative to the New Markets tax credit. (gov sig) (EN -$22,500,000 GF RV See Note)

summary

Introduced
04/04/2025
In Committee
06/02/2025
Crossed Over
05/14/2025
Passed
06/20/2025
Dead
Signed/Enacted/Adopted
06/20/2025

Introduced Session

Potential new amendment
2025 Regular Session

Bill Summary

AN ACT To amend and reenact R.S. 47:6016.1(B)(8)(a) and (11), (E)(1)(c), (2), and (5)(d), and the introductory paragraph of (H)(1) and to enact R.S. 47:6016.1(E)(1)(g) and (5)(e) and (J)(4) and (5), relative to the New Markets Jobs Act premium tax credit; to provide for the definition of qualified active low-income community business; to provide for the definition of qualified low-income community investment; to provide for the application requirements to

AI Summary

This bill modifies the Louisiana New Markets Jobs Act by updating provisions related to tax credits for investments in low-income communities. The bill expands the definition of qualified active low-income community businesses to include specific industry sectors and adjusts the maximum investment limits, increasing the cap from $5 million to $10 million for qualified equity investments issued on or after August 1, 2025. It introduces new application requirements for qualified community development entities, including a requirement that applicants attest they have not been subject to previous deposit forfeitures. The bill also mandates detailed annual reporting for entities issuing qualified equity investments after August 1, 2025, which must include comprehensive information about the businesses receiving investments, such as job creation, location, investment amounts, poverty rates, unemployment data, and potential economic development impacts. Additionally, the bill provides more flexibility for reinvestment and clarifies application processes for tax credit certifications, aimed at supporting economic development in low-income communities through targeted financial investments.

Committee Categories

Budget and Finance

Sponsors (2)

Last Action

Effective date 6/20/2025. (on 06/20/2025)

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bill summary

Document Type Source Location
State Bill Page https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=SB186&sbi=y
Analysis - Resume Digest for SB186 https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1426198
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1426047
Fiscal Note - SB186 Enrolled https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1423795
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1423304
Fiscal Note - SB186 ReEngrossed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1414669
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1414403
Analysis - Digest of SB186 Reengrossed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1414563
Senate Floor Amendment #1499 Reese Adopted https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1413257
Fiscal Note - SB186 Engrossed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1410115
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1408964
Analysis - Digest of SB186 Engrossed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1410085
Senate Committee Amendment #937 R&F Proposed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1408732
Fiscal Note - SB186 Original With Proposed Senate Cmte Amendments https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1409051
Senate Committee Amendment #874 R&F Draft https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1408468
Fiscal Note - SB186 Original https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1408751
Analysis - Digest of SB186 Original https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1404515
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1404513
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