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LA SB186
Bill
AI Summary
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Increases the maximum qualified low-income community investment limit per business from $5 million to $10 million for qualified equity investments issued on or after August 1, 2025
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Authorizes $150 million in new qualified equity investment authority for certification and allocation beginning August 1, 2025
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Waives the $500,000 application deposit requirement for qualified community development entities that have received prior certifications and have not forfeited previous deposits
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Allows applicants with expired (but not revoked/cancelled) federal allocation agreements to qualify if they or affiliates previously received state certification after August 1, 2020
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Establishes new annual reporting requirements for investments issued after August 1, 2025, including business details, job creation/retention data, salary information, poverty rates, and unemployment statistics for recipient communities
Legislative Description
Provides relative to the New Markets tax credit. (gov sig) (EN -$22,500,000 GF RV See Note)
TAX/TAXATION
Last Action
Effective date 6/20/2025.
6/20/2025