SLS 13RS-676 ORIGINAL
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2013
SENATE BILL NO. 258
BY SENATOR CLAITOR
TAX/TAXATION. Authorizes the Department of Revenue to appeal to the Louisiana Tax
Commission regarding the value of an assessment of inventory for purposes of the inventory
tax credit. (gov sig)
AN ACT1
To enact R.S. 47:6006(D), relative to tax credits; to authorize the Department of Revenue2
to appeal to the Louisiana Tax Commission under certain circumstances; and to3
provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 47:6006(D) is hereby enacted to read as follows: 6
ยง6006. Tax credits for local inventory taxes paid7
* * *8
D. If the Department of Revenue has reason to believe that the9
assessment upon which the ad valorem tax on inventory or natural gas was paid10
and for which a credit was claimed was not based upon fair market value, the11
department may appeal the assessment to the Louisiana Tax Commission for12
a redetermination of the assessment. If the commission determines that the13
assessment was more than five percent above fair market value, the commission14
shall authorize and direct the assessor to correct the assessment on the tax roll15
and the Department of Revenue shall reduce the tax credit accordingly.16
Section 2. This Act shall become effective upon signature by the governor or, if not17 SB NO. 258
SLS 13RS-676 ORIGINAL
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
signed by the governor, upon expiration of the time for bills to become law without signature1
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If2
vetoed by the governor and subsequently approved by the legislature, this Act shall become3
effective on the day following such approval.4
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Riley Boudreaux.
DIGEST
Present law authorizes an income or corporation franchise tax credit for ad valorem taxes
paid to political subdivisions on inventory held by manufacturers, distributors, and retailers
and on natural gas held, used, or consumed in providing natural gas storage services or
operating natural gas storage facilities.
Proposed law authorizes the Department of Revenue to appeal to the Louisiana Tax
Commission for a redetermination of an assessment upon which a tax credit was claimed if
the department has reason to believe that the assessment was not based upon fair market
value. If the commission determines that the assessment was more than 5% above fair
market value, the commission must direct the assessor to correct the assessment on the tax
roll and the department must reduce the tax credit accordingly.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 47:6006(D))