Louisiana 2024 Regular Session

Louisiana Senate Bill SB221

Introduced
3/1/24  
Introduced
3/1/24  
Refer
3/1/24  
Refer
3/1/24  
Refer
3/11/24  

Caption

Provides relative to the allocation of ad valorem tax assessed values of certain property. (gov sig) (OR SEE FISC NOTE LF RV See Note)

Impact

The bill's implementation requires the Louisiana Tax Commission to create new regulations to determine the allocation methodology for appraising movable property. This would entail analyzing the mileage of tracks and rolling stock owned by companies within various parishes. The Louisiana Tax Commission is tasked with annually reporting these valuations to each parish, which will then prepare and dispatch tax bills based on the assessed values. Additionally, East Baton Rouge Parish will coordinate the collection and remittance of property taxes for all involved parishes, thereby streamlining tax processes across the state.

Summary

Senate Bill 221 is a legislative proposal that addresses the allocation of ad valorem tax assessed values for movable properties owned or used in Louisiana. It maintains existing regulations that require the Louisiana Tax Commission to allocate assessed valuations of properties based on the location of the company's agent or office. However, for companies that do not have a presence in Louisiana, the bill specifies that their movable property will be allocated to East Baton Rouge Parish, contingent upon verification by local assessors. This adjustment aims to establish a standardized framework for property tax allocation across parishes in Louisiana.

Sentiment

The overall sentiment surrounding SB 221 tends to emphasize the need for structured methodologies in tax assessment. Proponents of the bill argue that it provides clarity and consistency in how taxes are allocated, ultimately supporting equitable tax distribution among parishes. However, there may be underlying apprehensions from some stakeholders regarding the centralization of tax authority and its implications for local governance, a common theme in tax-related legislation.

Contention

Notable points of contention stem from the potential for altering local tax revenues and the administrative burden placed on East Baton Rouge Parish. While the intention is to streamline tax processes, critics may worry that such centralization may lead to inequities or undermine the financial autonomy of other parishes. The requirement for local assessments and the rigor involved in annually verifying and reporting tax allocations may also be seen as a complicated bureaucratic process. This debate highlights the ongoing tension between local needs and state-level standardization in tax policy.

Companion Bills

No companion bills found.

Previously Filed As

LA SB193

Provides relative to the allocation of ad valorem tax assessed values of certain property. (gov sig) (OR SEE FISC NOTE LF RV)

LA SB5

Provides for alternatives in lieu of payment under protest for challenges to ad valorem tax assessments. (8/1/23) (EN SEE FISC NOTE LF RV See Note)

LA SB20

Provides relative to hospital service districts and scholarships for certain healthcare professionals. (gov sig) (EN SEE FISC NOTE LF EX See Note)

LA SB70

Authorizes the creation of cooperative economic development districts affiliated with Southern University and Louisiana State University in East Baton Rouge Parish. (gov sig) (EN SEE FISC NOTE GF RV See Note)

LA HB414

(Constitutional Amendment) Provides relative to various sources of state and local revenue (OR SEE FISC NOTE GF RV)

LA SB149

Provides relative to the state minimum wage. (gov sig) (EG INCREASE GF EX See Note)

LA HB229

Provides relative to electronic filings (OR SEE FISC NOTE LF EX See Note)

LA SB116

Provides for an increase in the allocation of funds to parish councils on aging for senior centers. (gov sig) (EN SEE FISC NOTE GF EX See Note)

LA SB97

Provides relative to the ad valorem tax exemption in Louisiana for affordable housing. (2/3-CA13s1(A)) (EG DECREASE LF RV See Note)

LA HB279

Provides relative to conveying by the La. Tax Commission of ad valorem tax assessment information it receives from local assessors (EN +$20,000 GF EX See Note)

Similar Bills

LA HCR101

Establishes the Louisiana Commission on Civil Asset Forfeiture

LA HR75

Requests a study concerning the process for taxpayer appeals of property assessments at the parish level (EN NO IMPACT See Note)

LA HCR123

Requests the Department of Insurance to report certain information regarding the Insure Louisiana Incentive Program

LA HCR86

Directs the La. State Law Institute to study the adoption of the Uniform Partition of Heirs' Property Act

LA HR201

Directs the La. State Law Institute to study the adoption of the Uniform Partition of Heirs' Property Act

LA HB513

Authorizes a property exchange between La. Tech University and the North American Islamic Trust

LA HB627

Authorizes the transfer of certain state property in St. Martin Parish

LA SB113

Provides the Louisiana Insurance Guaranty Association and the Louisiana Citizens Property Insurance Cooperation exceptions from liability for certain property insurance claims.