Blog
With some of the top tax experts in the business, we regularly publish articles with insight on trending areas of State & Local Tax.
Credits & Incentives Trends
In December 2024, Louisiana Economic Development announced that Meta has selected Northeast Louisiana as the site for a $10B AI-Optimization Center. The race is on for data centers and AI facilities for local jurisdictions and states to compete for such new and exciting projects. In Louisiana, the legislature enacted a new data center sales and use tax exemption. In other states, similar benefits have been provided along with ad valorem tax reductions in local jurisdictions. Congrats to Northeast Louisiana and LED for securing the WIN!
Louisiana Credits & Incentives Update
LED recently submitted its Summary Report to the Louisiana Legislative oversight committees regarding the proposed ITEP Rules published in the LA Register on 12/20/2024. LED also is expecting the proposed ITEP Rules to be published as final rules in the LA register 3/20/2025. This update was given publicly at the February meeting of the Louisiana Board of Commerce & Industry (BCI).
Louisiana Legislative Lowdown
Anticipation is on the rise as Louisiana’s 2025 Regular Legislative Session is set to convene at noon on Monday, April 14, 2025. The session will adjourn no later than 6:00 p.m. on Thursday, June 12, 2025. Since it is an odd-numbered year, this session is a fiscal session that will focus on budgetary and financial matters; however, legislators may file up to five non-fiscal bills.
Property Tax Legislative and National Trends
The last day to file bills for the 89th Texas Legislative regular session occurred on March 14th. Amongst a handful of bill priorities, property tax relief is once again in the mix. Several bills have been filed on both the House and Senate side with aims of reducing property taxes on both residential and business properties. A mix of approaches are being considered, including changes to school district rate compression, changes to appraisal caps, increases to the homestead exemption ($140,000, up from the current $100,000), and increases to the business personal property exemption ($250,000, up from the current $2,500).
Additional information on SB4/SJR2, HB8, and HB9/HJR1 (as well as other relevant proposals) can be found here: Texas’ 89th Legislature Mid-Session Update – Advantous