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Louisiana Department of Revenue Provides Guidance on Changes to State HTC

Monday, April 12, 2021 - 11:00AM

The Louisiana Department of Revenue issued guidance last week explaining changes to the state’s historic tax credit (HTC) as a result of H.B. 4, signed into law in July 2020. Louisiana Revenue Information Bulletin No. 21-010 formalizes the new $125 million annual statewide cap starting Jan. 1, 2021, (previously, there was no annual cap) and clarifies that unused credits can be rolled over to subsequent years. The guidance also establishes that the Department of Culture, Recreation and Tourism is required to adopt rules for how to reserve credits.

The Novogradac Historic Rehabilitation Handbook provides an overview of the federal HTC and the intricacies of the incentive, including its interaction with state HTCs.

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