HLS 15RS-665 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 484
BY REPRESENTATIVE JAY MORRIS
TAX CREDITS: Reduces the amount of the tax credit for ad valorem taxes paid on
inventory
1 AN ACT
2To amend and reenact R.S. 47:6006(D)(5) and to enact R.S. 47:6006(D)(6), relative to
3 income and corporation franchise tax credits; to provide with respect to the tax credit
4 for ad valorem taxes paid on inventory; to provide for the amount of the credit; and
5 to provide for related matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 47:6006(D)(5) is hereby amended and reenacted and R.S.
847:6006(D)(6) is hereby enacted to read as follows:
9 ยง6006. Tax credits for local inventory taxes paid
10 * * *
11 D. The credit provided in this Section shall be allowed as follows:
12 * * *
13 (5) For inventory taxes paid to political subdivisions on or after July 1, 1996,
14 and before January 1, 2016, the credit shall be one hundred percent of such taxes
15 paid.
16 (6) For inventory taxes paid to political subdivisions on or after January 1,
17 2016, the credit shall be ninety percent of such taxes paid.
18 * * *
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-665 ORIGINAL
HB NO. 484
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 484 Original 2015 Regular Session Jay Morris
Abstract: Reduces the amount of the inventory tax credit from 100% to 90% for ad
valorem taxes paid to political subdivisions on or after Jan. 1, 2016.
Present law authorizes an income or corporation franchise tax credit for ad valorem taxes
paid to political subdivisions on inventory held by manufacturers, distributors, and retailers
and on certain natural gas. The amount of the credit is equal to 100% of taxes paid.
Proposed law retains present law but reduces the amount of the credit from 100% to 90% for
taxes paid on or after Jan. 1, 2016.
(Amends R.S. 47:6006(D)(5); Adds 47:6006(D)(6))
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.