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LA HB222
Bill
Status
4/1/2025
Primary Sponsor
Kim Carver
Click for details
AI Summary
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Increases the deduction for bank-owned real estate, improvements, buildings, furniture, and fixtures from 50% to 100% of assessed value when calculating ad valorem (property) tax liability on bank stock
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Applies to all banks, banking companies, firms, associations, and corporations doing banking business in Louisiana, including federal joint stock land banks, state-chartered banks, and national banks
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Bank stock remains assessed at 15% of fair market value, but the larger deduction effectively reduces the taxable base for banks with significant property holdings
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Deduction also applies when property is owned by a separate corporation whose capital stock is entirely owned by the bank
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Effective January 1, 2026, applicable to property taxes beginning in tax year 2026
Legislative Description
Provides for the assessment of bank stocks for purposes of calculating ad valorem tax liability of certain banks (OR DECREASE LF RV See Note)
TAX/AD VALOREM TAX
Last Action
Read by title, under the rules, referred to the Committee on Ways and Means.
4/14/2025