House Bill No. [insert number] proposes the establishment of a tax credit for the installation of dashboard cameras and telematics systems in freight-carrying vehicles. The bill enacts R.S. 47:6044, which defines "qualifying equipment" as either a dashboard camera or a telematics system installed in a freight-carrying vehicle. The tax credit amount is set at 25% of the total cost incurred for purchasing and installing the qualifying equipment, with a maximum credit of $250 per vehicle or $10,000 per taxpayer per taxable year. Additionally, the total amount of credits granted in any taxable year is capped at $1 million.

The bill outlines that any unused credit can be carried forward for up to five years if it exceeds the taxpayer's tax liability for the year. Taxpayers must maintain records to verify their eligibility for the credit and provide them to the Department of Revenue upon request. The provisions of this act will apply to taxable periods beginning on or after January 1, 2026, and no credits may be claimed for taxable years beginning after December 31, 2031. The bill aims to encourage the installation of safety and monitoring equipment in commercial vehicles, thereby enhancing road safety and operational efficiency.