Blog
With some of the top tax experts in the business, we regularly publish articles with insight on trending areas of State & Local Tax.
Louisiana Legislative Session Update
Only 21 days left until Louisiana’s 2025 Regular Legislative Session adjourns. Here is an update on what happened this week at the legislature:
All 5 constitutional amendments related to the former CA 2 have made it to the Senate. Here are their current statuses:
HB 366 by Representative Deshotel – authorizes parishes to exempt business inventory and to reduce percentage of fair market value applicable to business inventory – is pending Senate final passage scheduled for 5/27.
HB 678 (formerly HB 472) by Representative Emerson – merges the Revenue Stabilization Fund and its dedications into the Budget Stabilization Fund – is pending Senate Finance.
HB 294 by Representative Bagley – removes cap on severance tax to be remitted to parishes– is pending Senate Revenue and Fiscal Affairs.
HB 473 by Representative Emerson – repeals certain trust funds to make payment to Teachers’ Retirement System – is pending Senate Finance.
HB 295 by Representative Tarver – requires calculation and adoption of Government Growth Limit on recurring expenses – is pending Senate Finance.
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.