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.