LAC 13:I.3309 – Applicability of Act 125 of the 2015 Legislative Session to the Angel Investor Tax Credits

A. Act 125 of the 2015 Regular Session of the Louisiana Legislature makes the following changes to the Angel Investor Tax Credits from July 1, 2015 until June 30, 2018:
1. 1. credits shall be reserved and issued at a rate of 25.2 percent of the investment amount in the LEB and credits shall be issued at the reserved rate regardless of the date of issuance;
2. 2. the total amount of credits that may be reserved and issued in a calendar year is $3.6 million, exclusive of any un-granted credits carried forward from previous years; and
3. 3. an investor may be issued credits on investments up to $720,000 per business per year and up to $1.44 million total per business.
B. The provisions of this section shall supersede any contradictory provisions under this Chapter between July 1, 2015 and June 30, 2018.

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6020 and R.S. 36:104.

HISTORICAL NOTE: Promulgated by the Department of Economic Development, Office of Business Development, LR 42:36 (January 2016).