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LA HB294
Bill
Status
5/12/2025
Primary Sponsor
Lawrence Bagley
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AI Summary
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Repeals the dollar-amount cap on state severance tax revenues remitted to parishes where natural resource extraction occurs, currently set at $850,000 annually (adjusted for inflation since 2008)
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Maintains the existing requirement that 20% (one-fifth) of severance taxes on natural resources other than sulphur, lignite, or timber be remitted to the parish where severance or production occurs
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Requires voter approval through a constitutional amendment ballot measure at the November 3, 2026 statewide election
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Effective July 1, 2027 if approved by voters
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Estimated to reduce state General Fund revenues by approximately $65 million annually by allowing parishes to retain their full 20% share without a cap
Legislative Description
(Constitutional Amendment) Provides relative to severance tax revenues remitted to parishes in which the associated severance occurs (EG -$65,000,000 GF RV See Note)
TAX/SEVERANCE TAX
Last Action
Read by title and returned to the Calendar, subject to call.
6/4/2025