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 812 Original 2015 Regular Session Stokes
Abstract: Changes the tax credit for ad valorem taxes paid on vessels in Outer Continental Shelf
Lands Act Waters from a refundable credit to a credit in which amounts of the credit above
the tax liability may be carried forward and applied against subsequent tax liability for up to
five years.
Present law provides for a La. income or corporation franchise tax credit for ad valorem taxes paid
without protest to political subdivisions on vessels in Outer Continental Shelf Lands Act Waters as
certified to the assessor pursuant to present law within the calendar year immediately preceding the
taxable year of assessment of the vessel. The amount of the credit shall be equal to 100% of the ad
valorem taxes paid to political subdivisions.
Present law provides that the taxpayer is entitled to a refund for any allowable credit which exceeds
the aggregate tax liability of the taxpayer. Further requires the Dept. of Revenue to refund the
excess tax credit amount to the taxpayer from current tax collections and to pay or disallow claims
for credits, refunds, and interest within ninety days of receiving a tax credit or refund claim.
Proposed law changes the tax credit from a refundable credit to one in which credit amounts which
exceed taxpayer liability may be carried forward against subsequent income or corporation franchise
tax liability for up to five years. Proposed law removes references to refunds and interest from the
requirement that the secretary pay tax credit amounts within one year of receipt of the tax credit
claim.
Applicable to tax years beginning on or after Jan. 1, 2015.
(Amends R.S. 47:6006.1(C) and (D))