LA HB129

Creates a 50% corporate income tax credit for broker-dealer financial firms that establish or relocate a home office or headquarters to a downtown development or cultural district in Louisiana

Qualifying firms must be FINRA-regulated, manage assets exceeding $500 million, and employ more than 200 workers at the headquarters with average annual wages of at least $50,000 (excluding benefits)

Louisiana Economic Development must certify applicants and execute contracts for up to 5 years, with annual reviews to verify continued eligibility

Disallowed credits may be recovered by the Department of Revenue within 3 years, with interest at 3 percentage points above the standard rate

Program terminates January 1, 2036, with no new contracts allowed after that date; effective for tax years beginning January 1, 2026