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:
(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))