SLS 15RS-370 ORIGINAL
2015 Regular Session
SENATE BILL NO. 139
BY SENATOR ALLAIN
TAX EXEMPTIONS. Constitutional amendment to exempt from ad valorem property taxes
inventory held by manufacturers, distributors, and retailers, to be submitted to electors of the
state if a certain law is enacted. (2/3-CA13s1(A))(1/1/16)
1 A JOINT RESOLUTION
2 Proposing to add Article VII, Section 21(C)(20) of the Constitution of Louisiana, relative
3 to ad valorem property tax exemptions; to provide for an exemption for certain
4 inventory and natural gas; and to specify an election for submission of the
5 proposition to electors and provide a ballot proposition.
6 Section 1. Be it resolved by the Legislature of Louisiana, two-thirds of the members
7 elected to each house concurring, that there shall be submitted to the electors of the state, for
8 their approval or rejection in the manner provided by law if the Act which originated as
9 House Bill No. _______ of the 2015 Regular Session of the Legislature is enacted and
10 becomes effective, a proposal to add Article VII, Section 21(C)(20) of the Constitution of
11 Louisiana, to read as follows:
12 ยง21. Other Property Exemptions
13 Section 21. In addition to the homestead exemption provided for in Section
14 20 of this Article, the following property and no other shall be exempt from ad
15 valorem taxation:
16 * * *
17 (C) * * *
Page 1 of 3
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 139
SLS 15RS-370 ORIGINAL
1 (20) Inventory held by manufacturers, distributors, and retailers.
2 * * *
3 Section 2. Be it further resolved that this proposed amendment shall become effective
4 January 1, 2016.
5 Section 3. Be it further resolved that this proposed amendment shall be submitted
6 to the electors of the state of Louisiana at the statewide election to be held on October 24,
7 2015, if the Act which originated as House Bill No. of the 2015 Regular Session
8 of the Legislature is enacted and becomes effective.
9 Section 4. Be it further resolved that on the official ballot to be used at said election
10 there shall be printed a proposition, upon which the electors of the state shall be permitted
11 to vote YES or NO, to amend the Constitution of Louisiana, which proposition shall read as
12 follows:
13 Do you support an amendment to exempt from property tax inventory held
14 by manufacturers, distributors, and retailers?
15 (Adds Article VII, Section 21(C)(20))
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Riley Boudreaux.
DIGEST
SB 139 Original 2015 Regular Session Allain
Present constitution exempts from ad valorem property taxes inventories of certain raw
materials, goods, commodities, and articles imported into the state from outside the United
States, or in transit through the state, under certain conditions. Also authorizes the authority
or district charged with economic development or the parish governing authority of each
parish to enter into contracts for the exemption of goods held in inventory by "distribution
centers".
Present law allows a refundable income or corporate franchise tax credit for ad valorem
property taxes paid on inventory held by manufacturers, distributors, and retailers and on
natural gas held, used, or consumed in providing natural gas storage services or operating
natural gas storage facilities.
Proposed constitutional amendment exempts from ad valorem property taxes inventory held
by manufacturers, distributors, and retailers.
Specifies submission of the amendment to the voters at the statewide election to be held on
October 24, 2015, if the Act which originated as House Bill No. _______ of the 2015
Regular Session of the Legislature is enacted and becomes effective.
Page 2 of 3
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 139
SLS 15RS-370 ORIGINAL
Effective January 1, 2016.
(Adds Const. Art. VII, Sec. 21(C)(20))
Page 3 of 3
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.