TAX CREDITS: Transfers the sound recording investor tax credit program from La. Economic Development to the Dept. of Culture, Recreation and Tourism and extends the duration of the program (EN DECREASE GF RV See Note)

HB 653 transfers administration of Louisiana's sound recording investor tax credit program from the Department of Economic Development to the Department of Culture, Recreation and Tourism, and extends the program's duration. The bill establishes tax credits of 18-25% on investor base investments exceeding $10,000-$25,000 for sound recording productions, plus payroll-based credits (10-20%) for new jobs paying $35k-$200k annually. It sets annual caps of $2.16 million total credits and $100,000 per project, with 50% reserved for Qualified Music Companies (QMCs). The program directly affects sound recording producers, investors funding these projects, and QMCs hiring Louisiana residents.