ENROLLED
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ACT No. 658
Regular Session, 2014
HOUSE BILL NO. 712
BY REPRESENTATIVE GREENE
AN ACT1
To enact R.S. 47:1624.1, relative to refunds; to provide with respect to the refund of certain2
overpayment of severance taxes; to allow the earning of interest in certain situations;3
to provide for certain limitations; to provide for effectiveness; and to provide for4
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, interest on a9
refund of an overpayment of severance tax to an operator whose well qualifies for10
the severance tax suspension pursuant to R.S. 47:633(7)(c)(iii) or (9)(d)(v) for new11
horizontal or deep wells shall be paid at the following rates:12
(1)(a) For refunds issued on or before the one hundred eightieth day after a13
properly filed claim for refund or an amended return for the new horizontal or deep14
well has been submitted to the department with all supporting documentation,15
interest on the refund shall be paid at the rate provided for in Subparagraph (b) of16
this Paragraph.17
(b) The rate of interest to be paid on the refunds provided for in Subparagraph18
(a) of this Paragraph which are issued during a particular year shall be the rate for19
the year ascertained by the department, which shall be the U.S. Treasury Yield Curve20
Constant Maturity 6-Month Treasury rate on the first business day of October of the21
preceding year and published on or before the following January first.22
(2) Interest on such refunds made after the one hundred eightieth day after23
a properly filed claim for refund or an amended return has been submitted to the24 ENROLLEDHB NO. 712
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department shall be the interest rate provided for in Paragraph (1) of this Section for1
the first one hundred eighty days, and the judicial rate of interest for any period of2
time in excess of one hundred eighty days in accordance with the provisions of R.S.3
47:1624.4
Section 2. This Act shall become effective upon signature by the governor or, if not5
signed by the governor, upon expiration of the time for bills to become law without signature6
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If7
vetoed by the governor and subsequently approved by the legislature, this Act shall become8
effective on the day following such approval.9
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: