HLS 14RS-1468 ORIGINAL Page 1 of 2 CODING: Words in struck through type are deletions from existing law; words underscored are additions. Regular Session, 2014 HOUSE BILL NO. 712 BY REPRESENTATIVE GREENE TAX/SEVERANCE TAX: Prohibits the state from paying interest on refunds for the overpayment of certain severance taxes AN ACT1 To enact R.S. 47:1624.1, relative to refunds; to provide with respect to the refund of2 overpayment of severance taxes; to prohibit certain taxpayers from earning interest3 on refunds; to provide for effectiveness; and to provide for related matters.4 Be it enacted by the Legislature of Louisiana:5 Section 1. R.S. 47:1624.1 is hereby enacted to read as follows: 6 ยง1624.1. Interest on refunds; severance tax7 Notwithstanding any other provision of law to the contrary, operators who8 qualify for the severance tax exemption pursuant to the provisions of R.S.9 47:633(7)(c)(iii) or (9)(d)(v) for new deep or horizontal wells, shall not be paid10 interest on refunds for the overpayment of severance taxes.11 Section 2. This Act shall take effect and become operative if and when the Act12 which originated as House Bill No. ______ of this 2014 Regular Session of the Legislature13 is enacted and becomes effective.14 HLS 14RS-1468 ORIGINAL HB NO. 712 Page 2 of 2 CODING: Words in struck through type are deletions from existing law; words underscored are additions. DIGEST The digest printed below was prepared by House Legislative Services. It constitutes no part of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)] Greene HB No. 712 Abstract: Prohibits operators who qualify for a severance tax exemption on new deep or horizontal wells from earning interest on refunds for overpayment of severance tax. Proposed law prohibits operators who qualify for a severance tax exemption on new deep or horizontal wells from earning interest on refunds for overpayment of severance taxes. Effective if and when House Bill No. ___ of this 2014 R.S. is enacted and becomes effective. (Adds R.S. 47:1624.1)