§1484. Satisfaction of claims

            A. At each regular session of the legislature, an amount shall be appropriated, except as provided in Subsections B and C of this Section, for the purpose of paying any and all claims that might be approved in accordance with the provisions of this Part, and which may be drawn against for the purpose of paying claims that might be duly approved by the Board of Tax Appeals.

            B. With the consent of the parties involved, final rulings or judgments of the Board of Tax Appeals concerning the overpayment of severance taxes may be additionally satisfied as provided in R.S. 47:1621.1.

            C.(1) When the Board of Tax Appeals has approved a claim against the state for erroneous payments of corporate franchise tax, and the claim is not paid pursuant to Subsection A of this Section within one year of the date the board's approval of the claim becomes final, the secretary of the Department of Revenue and the claimant may agree that the payment of the claim may be taken as an offset against state corporate income or franchise tax liability of the claimant.

            (2) Up to twenty-five percent of the total claim approved by the board shall be allowed as an offset in each of the four taxable years immediately following the agreement of the parties to the offset. For each taxable year in which an offset authorized by this Subsection is taken, the amount of the offset shall not exceed the amount of the state corporate income or franchise tax liability against which the offset is taken after application of all income or corporation franchise tax credits. The secretary shall authorize an extension of time not to exceed two years within which an offset may be taken if payment of the amount of the total claim approved is not satisfied after four years.

            (3) A party for which the secretary has authorized an offset pursuant to this Subsection may transfer the offset to a member of the party's affiliated group included in the federal consolidated return filed under the Internal Revenue Code. Any offset transferred to a member of the federal consolidated group shall be allowed only as an offset against the same taxes and shall be subject to the same limitations provided in Paragraph (2) of this Subsection. The transfer shall be in accordance with the procedures set forth by rule or on forms or instructions provided by the secretary.

            (4) No offset authorized pursuant to this Subsection may be taken prior to July 1, 2017.

            Acts 1989, 2nd Ex. Sess., No. 15, §2, eff. July 24, 1989; Acts 2016, No. 335, §1, eff. June 5, 2016.