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 489 Original 2021 Regular Session Pressly
Abstract: Establishes an ad valorem property tax exemption for items constituting business
inventory.
Present constitution authorizes local governments to impose ad valorem property taxes upon
movable and immovable property within their jurisdictions.
Proposed constitutional amendment exempts items constituting business inventory from ad valorem
property taxes. Further provides that business inventory items include goods held for sale, goods
in production or for ultimate consumption in the production of goods or services for sale, and goods
utilized in marketing and distribution activities.
Applicable to tax years beginning on or after Jan. 1, 2023.
Provides for submission of the proposed amendment to the voters at the statewide election to be held
Nov. 8, 2022.
(Adds Const. Art. VII, ยง21(O))