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Bill > HB560

LA HB560

LA HB560
Authorizes the imposition of tax on industrial hemp-derived CBD products (EN +$610,000 GF EX See Note)

summary

Introduced
03/29/2019
In Committee
05/27/2019
Crossed Over
05/23/2019
Passed
05/31/2019
Dead
Signed/Enacted/Adopted
06/11/2019

Introduced Session

2019 Regular Session

Bill Summary

AN ACT 2 To enact Chapter 19 of Subtitle II of Title 47 of the Louisiana Revised Statutes of 1950, to 3 be comprised of R.S. 47:1692 through 1696, relative to state excise tax on industrial 4 hemp-derived CBD products; to levy an excise tax on industrial hemp-derived CBD 5 products; to provide for certain definitions; to provide for the rate of the excise tax; 6 to exempt certain products from the excise tax; to authorize the promulgation of rules 7 and regulations; to provide for the use of the avails of the excise tax; to provide for 8 an effective date; and to provide for related matters. 9

AI Summary

This bill enacts Chapter 19 of Subtitle II of Title 47 of the Louisiana Revised Statutes to impose a 3% excise tax on the retail sale of industrial hemp-derived CBD products in Louisiana. It defines key terms like "industrial hemp," "industrial hemp-derived CBD product," and "retailer." The bill exempts from the tax any CBD products that have been approved as prescription medications or recommended for therapeutic use. The Department of Revenue is tasked with collecting, supervising, and enforcing the tax, and the revenues collected will be deposited into the state's Early Childhood Education Fund. The bill's provisions will take effect if and when another related bill (HB 138) is enacted and will apply to tax periods beginning on or after January 1, 2020.

Committee Categories

Budget and Finance

Sponsors (24)

Last Action

Effective date: See Act. (on 06/11/2019)

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bill summary

Document Type Source Location
State Bill Page http://www.legis.la.gov/legis/BillInfo.aspx?s=19rs&b=HB560&sbi=y
Analysis - Resume Digest for HB560 http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1146096
BillText http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1144112
Fiscal Note - HB560 Enrolled http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1143009
BillText http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1139656
Fiscal Note - HB560 ReEngrossed http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1137167
BillText http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1136857
Analysis - Digest of HB560 Reengrossed http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1137108
House Floor Amendment #2553 Schexnayder Proposed http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1133536
House Floor Amendment #2814 Schexnayder Withdrawn http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1134979
House Floor Amendment #2823 Schexnayder Adopted http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1135038
Fiscal Note - HB560 Engrossed http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1131779
BillText http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1126670
Analysis - Digest of HB560 Engrossed http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1126810
House Committee Amendment #1373 W&M Draft http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1126335
House Committee Amendment #1389 W&M Proposed http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1126409
Fiscal Note - HB560 Original http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1125624
BillText http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1122287
Analysis - Digest of HB560 Original http://www.legis.la.gov/Legis/ViewDocument.aspx?d=1122294
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