On Jul. 1, 2025, LOU LEG reported becomes Act No. 515 without governor signature.
Sections 2 and 5 of Act become effective on effective date of Section 1 of Act No. 6 (HB 3) of 2024 Third Extraordinary Session of Legislature (#236232), on Jan. 1, 2026.
Sec 1, 3, 4, 6 effective upon signature by governor or, if not signed by governor, upon expiration of time for bills become law without governor signature, i.e. Aug. 1, 2025.
On Jun. 12, LOU LEG passed bill revising tax credit requirements.
LOU LEG passed HB 665, amending LOU FIN 47:6020 re angel investor tax credits.
Bill Provisions
Adds requirements that a business must meet in order to qualify for angel investor tax credits including that the business be a high-growth, wealth-creating business.
The business must also be primarily engaged in certain designated business sectors.
Removes professional services companies from the current list of ineligible businesses.
Provides that no new Angel Investor Tax Credits shall be reserved after June 30, 2026.
Beginning Jan. 1, 2026, the carry-forward of residual unused credit amounts prohibited
Residual unused credits accumulated prior to Jan 1, 2026 may be used until exhausted
Extends the reservation application deadline from June 30, 2025, to the date when the total amount of unused credits carried forward from prior years is exhausted.
Expands class of investments qualifying a taxpayer for enhanced credit to include La. entrepreneurial businesses located in any parish with a population of less than 50,000.
Reporting requirements expanded to businesses participating in tax credit program.
Repeals the requirement that credit amounts be divided in equal portions for two years
Legislative History
On Apr. 23, 2025, bill introduced in House; on May 12, 2025, bill was passed in House.
On May 12, 2025, bill delivered to Senate; on Jun. 8, 2025, amended bill passed.
On Jun. 10, 2025, House rejected; on Jun. 11, 2025, conference committee appointed.
On Jun. 12, 2025, Conference Committee Report passed by both House and Senate.
Effectiveness
Bill becomes effective upon approval with certain provisions effective Jan. 1, 2026.
Jul. 2025 LOU LEG Bill Enactment
On Jul. 1, 2025, LOU LEG reported becomes Act No. 515 without governor signature.
Sections 2 and 5 of Act become effective on effective date of Section 1 of Act No. 6 (HB 3) of 2024 Third Extraordinary Session of Legislature (#236232), on Jan. 1, 2026.
Sec 1, 3, 4, 6 effective upon signature by governor or, if not signed by governor, upon expiration of time for bills become law without governor signature, i.e. Aug. 1, 2025.
