HLS 16RS-552 ORIGINAL
2016 Regular Session
HOUSE BILL NO. 795
BY REPRESENTATIVE STOKES
TAX EXEMPTIONS: Provides relative to the organization of the Tax Expenditure Budget
1 AN ACT
2To amend and reenact R.S. 47:1517(B), relative to the tax exemption budget; to require
3 certain organization of the tax exemptions; to provide for an effectiveness; and to
4 provide for related matters.
5Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:1517(B) is hereby amended and reenacted to read as follows:
7 ยง1517. Tax exemption budget
8 * * *
9 B.(1) The annual tax exemption budget shall include the following:
10 (1) (a) Each tax exemption, its statutory citation, and its purpose.
11 (2) (b) The revenue loss to the state caused by each tax exemption for the
12 three preceding years, the estimated revenue loss to the state caused by each tax
13 exemption for the current fiscal year, and the estimated revenue loss to the state
14 caused by each tax exemption for the ensuing fiscal year.
15 (3) (c) The estimated cost of administering and implementing each tax
16 exemption for the three preceding fiscal years, the current fiscal year, and the
17 ensuing fiscal year.
18 (2) The tax expenditures in the annual tax exemption budget shall be
19 organized as follows:
20 (a) Ad Valorem/Inventory Tax
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 16RS-552 ORIGINAL
HB NO. 795
1 (b) Agriculture/Rural
2 (c) Business Pyramiding
3 (d) Calculational
4 (e) Educational
5 (f) Incentive
6 (g) Intergovernmental
7 (h) Net Operating Loss
8 (i) Normal Tax Structure/Federally Imposed
9 (j) Retirement, Disability, and Military
10 (k) Severance
11 (l) Specialized Industry
12 (m) Specialized Personal
13 (n) Stelly: Constitutional
14 (o) Undisclosed Sales Tax
15 (p) Vendors Compensation
16 (q) Other
17 * * *
18 Section 2. This Act shall become effective on July 1, 2016; if vetoed by the governor
19and subsequently approved by the legislature, this Act shall become effective on July 1,
202016, or on the day following such approval by the legislature, whichever is later.
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 795 Original 2016 Regular Session Stokes
Abstract: Requires certain organization of the tax exemptions in the Tax Exemption
Budget.
Present law requires the Dept. of Revenue to annually prepare a tax exemption budget
detailing the prior tax years tax exemptions, including whether each exemption is meeting
its purpose, whether the purpose is being achieved in a fiscally effective manner, and
whether there are any inadvertent consequences caused by the tax exemption.
Proposed law retains present law and requires the tax exemptions to be organized as follows:
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 16RS-552 ORIGINAL
HB NO. 795
(1)Ad Valorem/Inventory Tax
(2)Agriculture/Rural
(3)Business Pyramiding
(4)Calculational
(5)Educational
(6)Incentive
(7) Intergovernmental
(8)Net Operating Loss
(9)Normal Tax Structure/Federally Imposed
(10) Retirement, Disability, and Military
(11)Severance
(12)Specialized Industry
(13)Specialized Personal
(14)Stelly: Constitutional
(15)Undisclosed Sales Tax
(16)Vendors Compensation
(17)Other
Effective July 1, 2016.
(Amends R.S. 47:1517(B))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.