ENROLLED
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Regular Session, 2014
HOUSE CONCURRENT RESOLUTI ON NO. 158
BY REPRESENTATIVE HENRY
A CONCURRENT RESOLUTI ON
To urge and request the Department of Economic Development to study the potential
economic impact on barge line, towing, and water transportation companies if the
legislature authorized an income and corporation franchise tax credit for ad valorem
taxes assessed against such company's public service properties and paid to political
subdivisions.
WHEREAS, under current law, property classified as public service property of
barge line, towing, and water transportation companies is subject to ad valorem taxes levied
by political subdivisions of this state; and
WHEREAS, during the 2009 Regular Session of the Legislature, House Bill No. 460
by Representative Ritchie authorized an income and corporation franchise tax credit for ad
valorem taxes paid by barge line, towing, and water transportation companies on their public
service properties; however, that bill did not finally pass both the House and Senate; and
WHEREAS, since the state and national economies have shown signs of slowing,
both the state and federal governments are considering measures which would promote
positive economic growth and industry development; and
WHEREAS, more information is needed relative to the potential economic impact
an income and corporation franchise tax credit like the one proposed in House Bill No. 460
from the 2009 Regular Session of the Legislature would have on those industries.
THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby
urge and request the Department of Economic Development to study the potential economic
impact on barge line, towing, and water transportation companies if the legislature
authorized an income and corporation franchise tax credit for ad valorem taxes assessed
against such company's public service properties and paid to political subdivisions. ENROLLEDHCR NO. 158
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BE IT FURTHER RESOLVED that the Department of Economic Development shall
solicit input from barge line, towing, and water transportation companies when studying this
issue.
BE IT FURTHER RESOLVED that the Department of Economic Development shall
make a written report to the House Committee on Ways and Means and the Senate
Committee on Revenue and Fiscal Affairs detailing their findings of the potential economic
impact of such a tax credit and make necessary recommendations for any potential
legislation prior to January 1, 2015.
BE IT FURTHER RESOLVED that a suitable copy of this Resolution be transmitted
to the secretary of the Department of Economic Development.
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE