Louisiana Insurers Conference Issues Urgent Call for Insurance Industry Opposition on Tax Credit Reduction Bill (HB 819)
May 4, 2015
The Louisiana Insurers Conference is asking insurance industry members and interested parties to contact members of the Louisiana House of Representatives’ Ways and Means Committee (“Committee”) and urge them to oppose HB 819 relating to Tax Credits before the bill is taken up at the Committee’s 9 a.m. meeting tomorrow morning, May 5, 2015.
Sponsored by State Representative Tim Burns, HB 819 would retain present law, but provide that the amount of any tax credits that may be claimed in a tax year against any insurance premium tax shall not reduce a taxpayer’s tax liability below 20 percent of the total tax due before credits.
HB 819 would also change the insurance investors’ tax credit by reducing the largest tax credit available under that program from 95 percent to 80 percent, applicable to all income tax years beginning on and after January 1, 2015, and franchise tax and insurance premium tax years beginning on and after January 1, 2016.
- Committee members and their contact telephone numbers can be found by clicking here.
- Email addresses can be found by clicking here.
To provide assistance, the Louisiana Insurers Conference has included a copy of HB 819 and related opposition talking points.
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