Bill > HB665

This bill modifies Louisiana's Angel Investor Tax Credit Program by extending its duration to June 30, 2026, and introducing several key changes. The bill enhances reporting requirements for Louisiana Entrepreneurial Businesses, mandating they provide detailed information about investments, employment, patents, grants, university partnerships, revenues, and business location. It refines program eligibility by specifying targeted business sectors including energy, logistics, aerospace, agribusiness, professional services, life sciences, and technology, and emphasizing high-growth, wealth-creating businesses with over 50% sales from outside Louisiana. The bill increases tax credit rates from 25% to 35% for certain investments, such as those meeting specific federal guidelines or located in parishes with populations under 50,000. The total annual tax credit cap remains at $3.6 million, with an additional $3.6 million available for enhanced credits. The legislation also adjusts how credits are allocated and carried forward, ensuring unused credits can be applied in subsequent years until January 1, 2026, after which no new credits will be reserved. These changes aim to stimulate investment in Louisiana's entrepreneurial ecosystem by providing more attractive tax incentives and promoting transparency in business development.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB665&sbi=y