2023 Louisiana Laws › Revised Statutes › Title 47 - Revenue and Taxation › §47:6012. Employer tax credits for donations of materials, equipment, advisors, or instructors

RS 47:6012 - Employer tax credits for donations of materials, equipment, advisors, or instructors
A. The intent of this Section is to provide an incentive for employers within the state to donate materials, equipment, or instructors to public training providers, secondary and postsecondary vocational-technical schools, apprenticeship program registered with the Louisiana Workforce Commission, or community colleges to assist in the development of training programs designed to meet industry needs.
B. There shall be a credit against any Louisiana income or corporation franchise tax for the donation of the latest technology available in materials, equipment, or instructors made to public training providers, secondary and postsecondary vocational-technical schools, apprenticeship program registered with the Louisiana Workforce Commission, or community colleges within the state. The credit shall be an amount equal to thirty-six one hundredths of the value of the donated materials, equipment, or services rendered by the instructor. Any such credit shall be taken as a credit against the applicable tax or taxes in the taxable period in which the donation was made. This tax credit, when combined with all other applicable tax credits, shall not exceed twenty percent of the employer's tax liability for any taxable year.
C. The Department of Revenue in consultation with the Louisiana Workforce Commission shall promulgate such rules and regulations as may be necessary to facilitate implementation of this Section in accordance with the Administrative Procedure Act. Such rules and regulations shall include provisions regarding the definition of qualified donations and employers, the criteria for determining eligible public training providers, secondary and postsecondary vocational-technical schools, apprenticeship program registered with the Louisiana Workforce Commission, and community colleges, and the maximum allowable tax credit. The House Committee on Ways and Means, the Senate Committee on Revenue and Fiscal Affairs, the House Committee on Labor and Industrial Relations, and the Senate Committee on Labor and Industrial Relations shall have joint legislative oversight over the promulgation of said rules and regulations. Such rules and regulations shall be promulgated no later than January 1, 1999.
D. The provisions of this Section shall be effective for donations made after July 1, 1998.
E. The tax credit granted by the provisions of this Section shall terminate on January 1, 2001, unless reestablished prior thereto.
F. Commencing no later than January 31, 2016, the House Committee on Ways and Means and the Senate Committee on Revenue and Fiscal Affairs shall review the credit authorized pursuant to the provisions of this Section to determine if the economic benefit provided by such credit outweighs the loss of revenue realized by the state as a result of awarding such credit. The House and Senate committees shall make a specific recommendation no later than March 1, 2017, to either continue the credit or to terminate the credit.
Acts 1998, No. 30, §1, eff. June 24, 1998 ; Acts 2002, No. 11, §1, eff. for all taxable periods beginning after Dec. 31, 2002; Acts 2008, No. 743, §7, eff. July 1, 2008; Acts 2015, No. 125, §2, eff. July 1, 2015; Acts 2015, No. 357, §1, eff. June 29, 2015; Acts 2016, 1st Ex. Sess., No. 29, §2; Acts 2017, No. 400, §§1, 4, eff. June 26, 2017.