House Bill No. by Representative Echols proposes the establishment of a corporate income tax credit for broker-dealer financial businesses that either establish a new home office or relocate their headquarters to a downtown development or cultural district in Louisiana. The credit will amount to 50% of the broker-dealer's corporate income tax liability and can be applied against the taxpayer's tax liability for the following tax year. To qualify for this credit, broker-dealers must be regulated by the Financial Industry Regulatory Authority, manage assets exceeding $500 million, and employ more than 200 individuals with an average annual wage of at least $50,000, excluding certain benefits.

The bill outlines the application process, requiring taxpayers to submit their applications to the secretary of Louisiana Economic Development (LED), who will review and certify compliance with the requirements. A contract for participation in the tax credit program will be executed for up to five years, including annual attestations of continued eligibility. Additionally, the bill allows for the recovery of disallowed credits and the assessment of interest on recovered credits. It also stipulates that no new credits will be granted or contracts entered into after January 1, 2036, and the provisions will take effect for contracts entered into and tax years beginning on or after January 1, 2026.