HLS 17RS-757 ORIGINAL
2017 Regular Session
HOUSE BILL NO. 396
BY REPRESENTATIVES DWIGHT AND ABRAHAM
TAX/SALES-USE, ST-EXEMPT: Provides for the effectiveness and applicability of the
state sales and use tax exclusion for sales of gold, silver, or numismatic coins, and
platinum, gold, or silver bullion
1 AN ACT
2To enact R.S. 47:302(AA)(29) and 321.1(F)(66)(u), relative to state sales and use tax; to
3 provide with respect to the exclusion for sales of certain precious metals and coins;
4 to provide for effectiveness and applicability of the exclusion; and to provide for
5 related matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 47:302(AA)(29) and 321.1(F)(66)(u) are hereby enacted to read as
8follows:
9 §302. Imposition of tax
10 * * *
11 AA. Notwithstanding any other provision of this Section to the contrary,
12 beginning July 1, 2016, the following specific exclusions and exemptions shall be
13 applicable to the tax levied pursuant to the provisions of this Section:
14 * * *
15 (29) Beginning June 1, 2017, sales and purchases of gold, silver, or
16 numismatic coins, or platinum, gold, or silver bullion, as provided in R.S.
17 47:301(16)(b)(ii).
18 * * *
19 §321.1. Imposition of Tax
20 * * *
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 17RS-757 ORIGINAL
HB NO. 396
1 F. Notwithstanding any other provision of law to the contrary, including but
2 not limited to any contrary provision of this Chapter, there shall be no exemptions
3 or exclusions as defined in R.S. 47:301 to the tax levied pursuant to the provisions
4 of this Section, except for the sales or purchases of the following items:
5 * * *
6 (66) Beginning July 1, 2016, in addition to those exclusions and exemptions
7 provided for in Paragraphs (1) through (65) of this Subsection, the following
8 exclusions and exemptions shall be allowable for purposes of the tax levied pursuant
9 to the provisions of this Section:
10 * * *
11 (u) Beginning June 1, 2017, sales and purchases of gold, silver, or
12 numismatic coins, or platinum, gold, or silver bullion, as provided in R.S.
13 47:301(16)(b)(ii), and notwithstanding any provision of R.S. 47:301(16)(b)(ii) to the
14 contrary, this exclusion shall be applicable for the tax imposed under this Section.
15 Section 2. This Act shall become effective upon signature by the governor or, if not
16signed by the governor, upon expiration of the time for bills to become law without signature
17by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
18vetoed by the governor and subsequently approved by the legislature, this Act shall become
19effective on the day following such approval.
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 396 Original 2017 Regular Session Dwight
Abstract: Provides for effectiveness and applicability of the state sales and use tax
exclusion for gold, silver, or numismatic coins, or platinum, gold, or silver bullion.
Present law imposes state sales and use taxes on the sale, use, lease, or rental of tangible
personal property pursuant to the following levies:
R.S. 47:302 - 2% tax
R.S. 47:321 - 1% tax
R.S. 47:321.1 - 1% tax
R.S. 47:331 - 0.97% tax
R.S. 51:1286 - .03% tax (LA Tourism and Promotion District)
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 17RS-757 ORIGINAL
HB NO. 396
Present law provides for exemptions and exclusions to state sales and use taxes. Further,
present law provides for the applicability and effectiveness of certain exclusions and
exemptions from the taxes imposed under R.S. 47:302 and 321.1 for the time between July
1, 2016, and June 30, 2018.
Present law provides for an exclusion from state sales and use taxes imposed under R.S.
47:302, 321, and 331, for the purchase of gold, silver, or numismatic coins, or gold, silver,
or platinum bullion. This exclusion in present law is not in effect for the state sales and use
taxes imposed under R.S. 47:302 and 321.1.
Proposed law changes present law concerning the effectiveness and applicability of the
exclusion for the purchase of gold, silver, or numismatic coins, or gold, silver, or platinum
bullion by providing that the exclusion is effective and applicable against all state sales and
use taxes beginning June 1, 2017.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Adds R.S. 47:302(AA)(29) and 321.1(F)(66)(u))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.