HLS 15RS-344 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 89
BY REPRESENTATIVE RITCHIE
TAX CREDITS: Reduces the amount of the inventory tax credit
1 AN ACT
2To amend and reenact R.S. 47:6006(D)(5) and to enact R.S. 47:6006(D)(6) and (7), relative
3 to tax credits; to provide for the amount of the credit; and to provide for related
4 matters.
5Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:6006(D)(5) is hereby amended and reenacted and R.S.
747:6006(D)(6) and (7) are hereby enacted to read as follows:
8 ยง6006. Tax credits for local inventory taxes paid
9 * * *
10 D. The credit provided in this Section shall be allowed as follows:
11 * * *
12 (5) For inventory taxes paid to political subdivisions on or after July 1, 1996,
13 and before January 1, 2015, the credit shall be one hundred percent of such taxes
14 paid.
15 (6) For inventory taxes paid to political subdivisions on or after January 1,
16 2015, and before January 1, 2017, the credit shall be seventy-five percent of such
17 taxes paid.
18 (7) For inventory taxes paid to political subdivisions on or after January 1,
19 2017, the credit shall be one hundred percent of such taxes paid.
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-344 ORIGINAL
HB NO. 89
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))
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.