LA HB598

Creates a Louisiana income tax credit for manufacturers of motor vehicles, aerospace products and parts, and medical equipment and supplies who place qualified manufacturing equipment in service within the state

Credit rates vary by property recovery period: 0.5% for 3-year property, 1% for 5-year property, 1.5% for 7-year property, 2% for 10-year property, and 2.5% for 15-year or greater property

Maximum credit capped at $10 million per qualifying taxpayer per taxable year, with unused credits carrying forward up to 10 years

Taxpayers claiming this credit are prohibited from receiving any other state tax credits, exemptions, deductions, or rebates for the same activity

Effective January 1, 2026, with credits subject to recapture if property is disposed of before the end of its recovery period or removed from Louisiana