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LA HB341
Bill
Status
4/3/2025
Primary Sponsor
Danny McCormick
Click for details
AI Summary
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Reduces Louisiana's individual income tax rate from 3% to 2.75%, effective January 1, 2027
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Terminates the motion picture production tax credit program by moving the application deadline from July 1, 2031 to July 1, 2025
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Eliminates project-based production credits (25% base credit, plus additional 5-10% for filming outside New Orleans or meeting Louisiana screenplay criteria, plus 15% for resident payroll, plus 5% for visual effects)
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Eliminates Qualified Entertainment Company payroll credits (15% for jobs paying $45,000-$66,000/year; 20% for jobs paying $66,000-$200,000/year)
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Becomes effective upon governor's signature or lapse of time for gubernatorial action
Legislative Description
Repeals the motion picture production tax credit and reduces the individual income tax rate (OR -$310,300,000 GF RV See Note)
TAX/INCOME TAX
Last Action
Read by title, under the rules, referred to the Committee on Ways and Means.
4/14/2025