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 89 Original 2015 Regular Session Ritchie
Abstract: Reduces the amount of the inventory tax credit from 100% to 75% for ad valorem taxes
paid on or after Jan. 1, 2015, and before Jan. 1, 2017.
Present law authorizes an income or corporation franchise tax credit for ad valorem tax 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 allowable credit from 100% to 75%
for taxes paid on or after Jan. 1, 2015, and before Jan. 1, 2017.
(Amends R.S. 47:6006(D)(5); adds R.S. 47:6006(D)(6) and (7))