HLS 15RS-1275 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 614
BY REPRESENTATIVE IVEY
TAX/AD VALOREM-EXEMPTION: (Constitutional Amendment) Exempts items
constituting business inventory from ad valorem tax
1 A JOINT RESOLUTION
2Proposing to add Article VII, Section 21(C)(20) of the Constitution of Louisiana, to provide
3 with respect to ad valorem property tax; to exempt certain items constituting
4 business inventory from ad valorem property tax; to provide for effectiveness; to
5 provide for submission of the proposed amendment to the electors; ; and to provide
6 for related matters.
7 Section 1. Be it resolved by the Legislature of Louisiana, two-thirds of the members
8elected to each house concurring, that there shall be submitted to the electors of the state of
9Louisiana, for their approval or rejection in the manner provided by law, a proposal to add
10Article VII, Section 21(C)(20) of the Constitution of Louisiana, to read as follows:
11 §21. Other Property Exemptions
12 Section 21. In addition to the homestead exemption provided for in Section
13 20 of this Article, the following property and no other shall be exempt from ad
14 valorem taxation:
15 * * *
16 (C)
17 * * *
18 (20) Items constituting business inventory, including goods which are held
19 for sale, goods in production or for ultimate consumption in the production of goods
20 or services for sale, and goods utilized in marketing and distribution activities.
21 * * *
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-1275 ORIGINAL
HB NO. 614
1 Section 2. Be it further resolved that the provisions of the amendment contained in
2this Joint Resolution shall be become effective on January 1, 2016, and shall be applicable
3to taxable years beginning on and after such date.
4 Section 3. Be it further resolved that this proposed amendment shall be submitted
5to the electors of the state of Louisiana at the statewide election to be held on October 24,
62015.
7 Section 4. Be it further resolved that on the official ballot to be used at the election,
8there shall be printed a proposition, upon which the electors of the state shall be permitted
9to vote YES or NO, to amend the Constitution of Louisiana, which proposition shall read as
10follows:
11 Do you support an amendment to exempt items constituting business
12 inventory from ad valorem property tax? (January 1, 2016) (Adds Article
13 VII, Section 21(C)(20))
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 614 Original 2015 Regular Session Ivey
Abstract: Exempts items constituting business inventory from ad valorem property tax.
Present constitution authorizes local governments to impose an ad valorem property tax upon
movable and immovable property within their jurisdictions.
Proposed constitution exempts from ad valorem property tax items constituting business
inventory. Such items include goods which are held for sale, goods in production or for
ultimate consumption in the production of goods or services for sale, and goods utilized in
marketing and distribution activities.
Effective Jan. 1, 2016.
Provides for submission of the proposed amendment to the voters at the statewide election
to be held Oct. 24, 2015.
(Adds Const. Art. VII, §21(C)(20))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.