Bill > SB179

This bill modifies how ad valorem tax (property tax) assessed values are allocated for certain nonresident companies' property, specifically focusing on major movable property owned by companies without a Louisiana residence or office. The key change is replacing the previous method of automatically allocating such property's value to East Baton Rouge Parish with a new formula based on the proportion of active railroad track miles in each parish. The allocation will be phased in gradually: in 2026, 25% will be allocated by railroad track miles and 75% to East Baton Rouge Parish; in 2027, it will be 50/50; in 2028, 75% by track miles and 25% to East Baton Rouge Parish; and from 2029 onward, 100% will be allocated based on the railroad track mile ratio. The Louisiana Tax Commission will be responsible for publishing the total and parish-specific railroad track miles used in this calculation, and if an assessor certifies specific major movable property was present in their parish on January 1st, those assets will be directly allocated to that parish before applying the new track mile-based formula.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=SB179&sbi=y