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)]
HB 230 Original 2015 Regular Session Talbot
Abstract: Repeals the La. income and corporation franchise refundable tax credit for ad valorem
taxes paid to local governments for inventory held by manufacturers, retailers, and
distributors and on natural gas used in providing storage services and storage facilities.
Present law authorizes a refundable tax credit against La. income or corporation franchise tax equal
to 100% of the ad valorem taxes paid to political subdivisions on inventory held by manufacturers,
distributors, and retailers and on natural gas held, used, or consumed in providing natural gas storage
services or operating natural gas storage facilities. Further defines the terms "manufacturer",
"distributor", and "retailer" for purposes of the credit.
Proposed law repeals present law.
Effective Jan. 1, 2016.
(Repeals R.S. 47:6006)