TAX CREDITS: Extends the sunset date of the tax credit for retaliatory taxes paid by certain domestic insurers (EN SEE FISC NOTE GF RV See Note)
HB 475 extends the expiration date of a tax credit for domestic insurers that pay retaliatory taxes imposed by other states. The bill specifically changes the sunset date from 2034 to 2031, meaning the credit will remain available until the end of 2031 instead of 2034. This directly affects domestic insurers operating in the state who face retaliatory tax policies from other jurisdictions. The key provision is a simple modification to the credit's expiration timeline, providing continued tax relief for these insurers for three additional years.
Bill status
signed
all 5 stages cleared
Introduction
Apr 2025
Committee Review
Jun 2025
House Passage
Jun 2025
Senate Passage
Jun 2025
Signed into Law
Jun 2025
Introduced Apr 4, 2025
Signed Jun 20, 2025
Maddy AI version diff · 3 comparisons
What changed between versions
HB475 Original
→
HB475 Act
·
3 edits
MINOR
This bill amends the law regarding tax credits for Louisiana insurers that pay retaliatory taxes in other states. It increases the annual funding cap for these credits from $9 million to $25 million and extends the deadline for claiming these credits from December 31, 2029, to December 31, 2031.
Scope change
The scope of the credit program was expanded by increasing the total available funds and extending the eligibility period.
FISCAL
The maximum annual amount of tax credits available to insurers was increased from $9 million to $25 million.
TIMELINE
The sunset date for claiming retaliatory tax credits was extended from December 31, 2029, to December 31, 2031.
TECHNICAL
The bill was simplified by removing references to specific subsections (introductory paragraph, 6, and 7) and retaining only the amendment to subsection (9), which covers the credit limit and expiration date.
Floor votes · Senate Jun 8, 2025 · House May 8, 2025
How they voted
36–0
Passed · 1 other
Total votes 37
Jun 8, 2025
D
Democratic11
90% Yea
R
Republican26
100% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
24
Key actions
5
Committee
5
Jun 10, 2025
Lower · Passed
Read by title, roll called, yeas 94, nays 0, Senate amendments concurred in.
lower
Jun 8, 2025
Upper · Passed
Senate floor amendments read and adopted. Read by title, passed by a vote of 38 yeas and 0 nays, and ordered returned to the House. Motion to reconsider tabled.
upper
Jun 3, 2025
Committee
Committee amendments read and adopted. Read by title and referred to the Legislative Bureau.
upper
Jun 2, 2025
Upper · Passed
Reported with amendments.
upper
May 8, 2025
Lower · Passed
Read third time by title, roll called on final passage, yeas 95, nays 0. Finally passed, title adopted, ordered to the Senate.
lower
May 5, 2025
Lower · Passed
Reported with amendments (13-0).
lower
Apr 14, 2025
Committee
Read by title, under the rules, referred to the Committee on Ways and Means.
lower
Apr 4, 2025
Committee
Under the rules, provisionally referred to the Committee on Ways and Means.
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Gabe Firment
RRepublican
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