HLS 15RS-1012 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 230
BY REPRESENTATIVE TALBOT
TAX CREDITS: Repeals the refundable income and corporation franchise tax credit for ad
valorem property taxes paid to local governments on inventory
1 AN ACT
2To repeal R.S. 47:6006, relative to income and corporation franchise tax credits; to repeal
3 the tax credit for ad valorem taxes paid on inventory; and to provide for an effective
4 date.
5Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:6006 is hereby repealed in its entirety.
7 Section 2. This Act shall become effective on January 1, 2016; if vetoed by the
8governor and subsequently approved by the legislature, this Act shall become effective on
9January 1, 2016, or on the day following such approval by the legislature, whichever is later.
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)
Page 1 of 1