HLS 14RS-1468 REENGROSSED
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CODING: Words in struck through type are deletions from existing law; words underscored
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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 certain limitations; to provide for effectiveness; and to4
provide for related matters.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 47:1624.1 is hereby enacted to read as follows: 7
ยง1624.1. Interest on refunds; severance tax8
Notwithstanding any other provision of law to the contrary, an operator,9
whose well qualifies for the severance tax suspension pursuant to the provisions of10
R.S. 47:633(7)(c)(iii) or (9)(d)(v) for new horizontal or deep wells, shall be paid11
interest on refunds at the U.S. Treasury Yield Curve Constant Maturity 6-Month12
Treasury Bill rate for the overpayment of severance taxes when such refunds have13
been processed and paid by the Department of Revenue after the one hundred14
eightieth day following the day a properly filed claim for refund or amended return15
with supporting documentation for the new horizontal or deep well has been16
submitted to the department.17
Section 2. This Act shall become effective upon signature by the governor or, if not18
signed by the governor, upon expiration of the time for bills to become law without signature19
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If20 HLS 14RS-1468 REENGROSSED
HB NO. 712
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
vetoed by the governor and subsequently approved by the legislature, this Act shall become1
effective on the day following such approval.2
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: Requires the Dept. Revenue to pay interest on refunds for overpayment of
severance tax on certain horizontal or deep wells if the refund is paid after the 180th
day following the day a properly filed refund is submitted to the Dept. of Revenue.
Proposed law requires the Dept. or Revenue (DOR) to pay interest on refunds for
overpayment of severance taxes to an operator whose well qualifies for a severance tax
suspension on new horizontal wells or deep wells if the refund is processed and paid by the
DOR after the 180th day following the day a properly filed claim for refund or amended
return with supporting documentation for the new horizontal well or deep well has been
submitted to DOR. Interest on refunds shall be paid at the U.S. Treasury Yield Curve
Constant Maturity 6-Month Treasury Bill rate.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Adds R.S. 47:1624.1)
Summary of Amendments Adopted by House
Committee Amendments Proposed by House Committee on Ways and Means to the
original bill.
1. Changed the reference in proposed law from a severance tax exemption to a
severance tax suspension.
2. Added requirement that no interest shall be paid if the refund is processed and
paid by DOR no later than the 180th day following the day a properly filed claim
for refund or amended return is submitted to DOR.
House Floor Amendments to the engrossed bill.
1. Deletes the provision that no interest shall be paid on the refunds.
2. Adds a requirement that DOR pay interest on the overpayment of severance taxes
at the U.S. Treasury Yield Curve Constant Maturity 6-Month Treasury Bill rate
if the refund is processed and paid by DOR after the 180th day following the day
a properly filed claim for refund or amended return is submitted to DOR.
3. Changes the effective date from one conditioned upon passage of House Bill No.
713 of this 2014 R.S. to upon signature of the governor or lapse of time for
gubernatorial action.