TAX CREDITS: Establishes an income tax credit for motor vehicle manufacturers and motor vehicle manufacturing suppliers (OR DECREASE GF RV See Note)

HB 230 creates a Louisiana income tax credit for motor vehicle manufacturers and their suppliers. It allows qualifying businesses to reduce their state tax bill by 0.5% to 2.5% of the cost of eligible manufacturing equipment (based on its IRS depreciation schedule), capped at $10 million per year. Unused credit amounts can be carried forward for up to 10 years. The credit applies only to businesses classified as motor vehicle manufacturers (NAICS 31-33) or suppliers of components/services for that industry, and expires for taxable years after 2031. The bill takes effect January 1, 2026.