Loading chat...

LA HB646

Bill

Official Source

Status

Introduced

4/22/2025

Primary Sponsor

Robert Carter

Click for details

Origin

House of Representatives

2025 Regular Session

AI Summary

  • Levies a 30% excise tax on gross proceeds from geologic storage of carbon dioxide at any site within Louisiana
  • Tax applies to storage operators and is in addition to all other applicable state and local taxes on sales and income
  • Storage operators must report quarterly and pay the tax by the 20th day of the month following each calendar quarter
  • Department of Revenue administers, collects, and enforces the tax, with authority to promulgate implementing rules
  • Effective July 1, 2025, applying to taxable periods beginning on or after that date

Legislative Description

Imposes an excise tax on proceeds from geologic storage of carbon dioxide (OR INCREASE GF RV See Note)

TAX/EXCISE

Last Action

Read by title, under the rules, referred to the Committee on Ways and Means.

4/23/2025

Committee Referrals

Ways and Means4/23/2025

Full Bill Text

No bill text available