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 549 Original 2019 Regular Session Jefferson
Abstract: Adds structures located in opportunity zones to the property eligible to participate in the
Restoration Tax Abatement proposal
Present law authorizes the Restoration Tax Abatement program which allows owners of commercial
structures or an owner-occupied residence in a downtown, historic, or economic development district
who expand, restore, improve, or develop eligible property to pay ad valorem taxes for five years
based upon the assessed valuation of the property for the year prior to the commencement of the
expansion, restoration, improvement, or development.
Proposed law retains present law and adds opportunity zones to the types of property eligible for the
Restoration Tax Abatement program.
Effective July 1, 2019, and applicable to all applications received on or after July 1, 2019.
(Amends R.S. 47:4311 and 4313(A)(1) )