Louisiana Bill Would Create New $100 Million QEI Round of State’s NMTC Program

Tuesday, June 9, 2020 - 3:15PM

Legislation introduced in Louisiana would create a new round under the state New Markets Jobs tax credit program for the allocation and certification of up to $100 million in qualified equity investments (QEI), beginning Aug. 1. H.B. 45 would allow credits against the state insurance premium tax worth 60 percent of the QEI, taken as 15 percent on the fourth, fifth, sixth and seventh credit allowance dates. The QEIs would be required to be made in certain industries. Under the proposed law, community development entities must have invested at least $100 million in Louisiana to be eligible for the credit and the maximum amount of qualified low-income community investments is $5 million. The existing New Markets Jobs program began in 2012 with $55 million in allocation authority.

Learn more about Novogradac's expertise and many services