SLS 17RS-410 ORIGINAL
2017 Regular Session
SENATE BILL NO. 203
BY SENATOR GARY SMITH
TAX/SALES. Provides for the reinstatement of the sales and use tax exemption for
numismatic coins and bullion. (gov sig)
1 AN ACT
2 To enact R.S. 47:302(BB) and 321.1(F)(67), relative to state sales and use tax; to provide
3 with respect to the exclusion for sales of certain precious metals and coins; to
4 provide for effectiveness and applicability of the exclusion; and to provide for
5 related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 47:302(BB) and 321.1(F)(67) are hereby enacted to read as follows:
8 §302. Imposition of tax
9 * * *
10 BB. Notwithstanding any other provision of this Section to the contrary,
11 in addition to those exemptions and exclusions provided for in Subsection AA
12 of this Section, beginning July 1, 2017, the exclusion for sales and purchases of
13 gold, silver, or numismatic coins, or platinum, gold, or silver bullion, as
14 provided in R.S. 47:301(16)(b)(ii) shall be applicable to the tax levied pursuant
15 to the provisions of this Section.
16 * * *
17 §321.1. Imposition of Tax
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. 203
SLS 17RS-410 ORIGINAL
1 * * *
2 F. Notwithstanding any other provision of law to the contrary, including but
3 not limited to any contrary provision of this Chapter, there shall be no exemptions
4 or exclusions as defined in R.S. 47:301 to the tax levied pursuant to the provisions
5 of this Section, except for the sales or purchases of the following items:
6 * * *
7 (67) Notwithstanding any provision of R.S. 47:301(16)(b)(ii) to the
8 contrary, in addition to those exclusions and exemptions provided for in
9 Paragraphs (1) through (66) of this Subsection, beginning July 1, 2017, the
10 exclusion for sales and purchases of gold, silver, or numismatic coins, or
11 platinum, gold, or silver bullion, as provided in R.S. 47:301(16)(b)(ii) shall be
12 applicable to the tax levied pursuant to the provisions of this Section.
13 * * *
14 Section 2. This Act shall become effective upon signature by the governor or, if not
15 signed by the governor, upon expiration of the time for bills to become law without signature
16 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
17 vetoed by the governor and subsequently approved by the legislature, this Act shall become
18 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 Leonore Heavey.
DIGEST
SB 203 Original 2017 Regular Session Gary Smith
Present law partially suspends the state sales and use tax exclusion for purchases of gold,
silver, or numismatic coins, or platinum, gold, or silver bullion subjecting these purchases
to state sales and use tax at the rate of three percent until July 1, 2018.
Proposed law excludes purchases of gold, silver, or numismatic coins, or platinum, gold, or
silver bullion from all state sales and use tax beginning July 1, 2017.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 47:302(BB) and 321.1(F)(67))
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.