House Bill No. by Representative Echols proposes the establishment of an income tax credit for pharmaceutical and medicine manufacturers under the Louisiana Drug Manufacturing Repatriation Act. This credit is available to qualifying taxpayers who place qualified drug manufacturing and productive equipment property in service during a taxable year. The bill defines "qualifying taxpayer" as entities engaged in pharmaceutical manufacturing that relocate operations from specific foreign countries to Louisiana. The credit amount is calculated based on a percentage of the total aggregate bases of qualifying property, with a maximum limit of $10 million per taxpayer per taxable year.

The bill also outlines provisions for carrying forward unused credit amounts for up to ten years and includes recapture rules for taxpayers who dispose of qualified property before the end of its recovery period. Additionally, it specifies that taxpayers receiving this credit are ineligible for other state tax credits or benefits related to the same activity. The provisions of the bill will apply to taxable periods beginning on or after January 1, 2026, and the act will become effective on that date.