SLS 15RS-406 ORIGINAL
2015 Regular Session
SENATE BILL NO. 89
BY SENATOR ADLEY
TAX/TAXATION. Removes the refundable tax credit for ad valorem property taxes paid
on natural gas held, used, or consumed in providing natural gas storage services or operating
natural gas storage facilities. (gov sig)
1 AN ACT
2 To amend and reenact R.S. 47:6006(A), relative to tax credits for local inventory taxes paid;
3 to remove ad valorem taxes paid to political subdivisions on natural gas held, used,
4 or consumed in providing natural gas storage services or operating natural gas
5 storage facilities from the credits allowed; and to provide for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 47:6006(A) is hereby amended and reenacted to read as follows:
8 ยง6006. Tax credits for local inventory taxes paid
9 A. There shall be allowed a credit against any Louisiana income or
10 corporation franchise tax for ad valorem taxes paid to political subdivisions on
11 inventory held by manufacturers, distributors, and retailers and on natural gas held,
12 used, or consumed in providing natural gas storage services or operating natural gas
13 storage facilities.
14 * * *
15 Section 2. The provisions of this Act shall apply to all tax years beginning on or after
16 January 1, 2015.
17 Section 3. This Act shall become effective upon signature by the governor or, if not
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 89
SLS 15RS-406 ORIGINAL
1 signed by the governor, upon expiration of the time for bills to become law without signature
2 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
3 vetoed by the governor and subsequently approved by the legislature, this Act shall become
4 effective on the day following such approval.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Laura Gail Sullivan.
DIGEST
SB 89 Original 2015 Regular Session Adley
Present law allows a credit against any La. income or corporation franchise tax for local ad
valorem 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 law retains present law credit for taxes paid on inventory held by manufacturers,
distributors, and retailers.
Proposed law removes the credit for taxes paid related to natural gas for all tax years
beginning on or after Jan. 1, 2015.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 47:6006(A))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.