Louisiana House Bill HB391

Louisiana 2015 Regular Session

• Introduced: 4/2/15
• Refer: 4/2/15
• Refer: 4/13/15
• Report Pass: 5/11/15
• Engrossed: 5/20/15
• Refer: 5/21/15
• Report Pass: 6/1/15
• Enrolled: 6/7/15
• Chaptered: 6/29/15
• Passed: 6/29/15

Caption

Provides relative to the forestry commission's authority to determine the market value of certain items (EN NO IMPACT See Note)

Impact

The impact of HB 391 is primarily seen in the forestry sector, as it modifies how taxation is applied to natural resources. By enhancing the commission's authority to take various sales data into account, the bill could lead to more accurate tax assessments, ultimately affecting revenue generated from forestry-related activities. This change is expected to benefit both the state's budgetary needs and the forestry industry by creating a fairer tax environment based on real market values.

Summary

House Bill 391 addresses the authority of the Louisiana Forestry Commission in determining the market value of trees, timber, and pulpwood for taxation purposes. The bill amends existing legislation to refine how the commission bases its assessments on market value, allowing it to consider sales data submitted to the Department of Revenue and published reports by the Department of Agriculture and Forestry. This adjustment aims to ensure that the market value calculations align more closely with actual market conditions and sales trends.

Sentiment

The sentiment surrounding HB 391 was generally positive among the legislators, evidenced by the unanimous support during the voting process, with 38 yeas and no nays recorded. Supporters of the bill viewed it as a necessary update to an existing framework, promoting fairness and transparency in tax assessments. There seemed to be no significant opposition, which suggests that stakeholders in the forestry industry and legislative members found common ground on this issue.

Contention

Since there appears to be a lack of notable points of contention regarding HB 391, reflections from discussions suggest that the bill was seen mainly as a technical adjustment rather than one generating significant debate. The absence of dissenting votes indicates consensus on the need for improved methods of assessment, reflecting broad agreement on the importance of adapting tax regulations to current market realities. As such, HB 391 serves as an example of legislative collaboration aimed at enhancing operational efficiency within state regulatory systems.