TAX CREDITS: Establishes an income tax credit for certain pharmaceutical and medicine manufacturers (OR DECREASE GF RV See Note)

HB 233 creates a Louisiana income tax credit for pharmaceutical and medicine manufacturers that close facilities in Canada, Mexico, China, India, Singapore, the UK, or the EU and relocate production to Louisiana. The credit equals 0.5% to 2.5% of the value of qualifying equipment used in drug manufacturing (based on IRS depreciation categories), capped at $10 million per year per company. Unused credit amounts can be carried forward for up to ten years. This bill directly affects eligible manufacturers relocating operations to Louisiana, requiring them to meet specific equipment and location criteria under the Louisiana Drug Manufacturing Repatriation Act.