SB 28: TAX/TAXATION: Establishes an income tax credit for taxpayers who pay to have a fortified roof installed on their property. (gov sig) (EN DECREASE GF RV See Note) - Louisiana

SB28 Original → SB28 Act 404 · 6 edits

MODERATE

The bill was amended to expand its legislative sponsors and clarify its purpose by adding specific definitions for key terms. The most significant policy change is the shift in administration authority from the Department of Insurance to the Department of Revenue, which now handles the certification and issuance of tax credits. Additionally, the carry-forward period for unused tax credits was reduced from five years to three years, and the interest rate on recovered credits was updated to align with standard state tax laws.

Scope change

The bill's scope was expanded to include new definitions for 'Qualified expenses', 'Qualifying property', and 'Secretary', while the administrative scope shifted from the Insurance Department to the Revenue Department.

DEFINITION

New definitions were added for 'Qualified expenses' (costs to meet safety standards), 'Qualifying property' (owner-occupied homes with homestead exemptions), and 'Secretary' (head of the Department of Revenue).

ELIGIBILITY

The authority to certify and administer the tax credit was transferred from the Louisiana Department of Insurance to the Louisiana Department of Revenue.

TIMELINE

The maximum period for carrying forward unused tax credits was reduced from five years to three years.

ENFORCEMENT

The interest rate applied to recovered credits was changed from a fixed rate three points above the statutory rate to the standard rate found in R.S. 47:1601(A)(2).

REQUIREMENT

A new provision requires taxpayers to attach the certification letter from the Insurance Institute for Business and Home Safety to their tax application.

FISCAL

A new annual cap of ten million dollars was established for the total amount of credits issued, with a first-come, first-served distribution method.

SB28 Enrolled → SB28 Original · 5 edits

MODERATE

This bill was revised to shift the administrative oversight of the tax credit program from the Department of Revenue to the Department of Insurance. Additionally, the bill's purpose was clarified to address funding shortages in the existing 'Fortify Homes' program, and the credit's expiration date was extended from 2028 to 2031.

Scope change

The scope of administration changed from the Department of Revenue to the Department of Insurance, and the program duration was extended.

DEFINITION

The 'Department' is now defined as the Louisiana Department of Insurance instead of the Department of Revenue.

SCOPE

The bill's purpose was added to explain that the tax credit is intended to incentivize homeowners to retrofit roofs because existing grant funding has been exhausted.

TIMELINE

The expiration date for the tax credit was extended from December 31, 2028, to December 31, 2031.

REQUIREMENT

The requirement for the Department of Revenue to review applications and certify compliance with roof standards was removed, as the Department of Insurance now handles certification.

The administrative rules section was updated to authorize the Department of Insurance to create program policies.

SB28 Reengrossed → SB28 Enrolled · 4 edits · Jun 20, 2025

MODERATE

The bill was finalized as 'Enrolled' and expanded the list of sponsoring representatives. The text was cleaned up to remove redundant phrases regarding the recovery of credits and clarified that 'qualified expenses' include both the purchase and installation costs. A new definition was added to explicitly exclude new construction homes, condominiums, and mobile homes from eligibility.

Scope change

The bill's scope was narrowed by adding a specific exclusion for new construction homes, condominiums, and mobile homes from the tax credit program.

TECHNICAL

The list of sponsoring representatives was updated to include Bayham, Billings, Chassion, and Orgeron in addition to the original sponsors.

Redundant language regarding the recovery and recapture of credits was removed to streamline the text.

DEFINITION

The definition of 'qualified expenses' was revised to explicitly state that costs include both the purchase and installation of the fortified roof.

ELIGIBILITY

A new provision was added to the definition of 'qualifying property' that explicitly excludes new construction homes, condominiums, and mobile homes from receiving the tax credit.

SB28 Engrossed → SB28 Reengrossed · 6 edits · Jun 8, 2025

MODERATE

The bill was reengrossed to shift oversight from the Department of Insurance to the Department of Revenue, aligning the tax credit administration with the state's revenue collection agency. This change ensures the Department of Revenue directly manages the application, certification, and recovery of credits, replacing the previous role of the Insurance Institute and Department of Insurance. Additionally, the bill clarifies that the credit is specifically for installing fortified roofs meeting established safety standards, rather than just general expenses.

Scope change

The administrative scope changed from the Department of Insurance to the Department of Revenue, and the certification authority shifted from the Department of Insurance to the Insurance Institute for Business and Home Safety.

REQUIREMENT

The Louisiana Department of Revenue now administers the tax credit program instead of the Department of Insurance.

The credit is now earned when certified by the Insurance Institute for Business and Home Safety, rather than the Department of Insurance.

Taxpayers must submit a copy of the certificate issued by the Insurance Institute for Business and Home Safety to the Department of Revenue to claim the credit.

DEFINITION

The 'Department' is now defined as the Department of Revenue, and the 'Secretary' is defined as the Secretary of the Department of Revenue.

ENFORCEMENT

New provisions allow the Department of Revenue to recover disallowed credits using collection remedies authorized by state law.

ELIGIBILITY

A new clause prevents taxpayers from receiving this tax credit if they have already received a grant under R.S. 22:1483.1.

TAX/TAXATION: Establishes an income tax credit for taxpayers who pay to have a fortified roof installed on their property. (gov sig) (EN DECREASE GF RV See Note)

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