LA HB650

Creates a state rebate for taxpayers who paid local ad valorem taxes on inventory but are ineligible for the existing inventory tax credit under R.S. 47:6006

Rebate amount calculated using the same method and percentage as the existing inventory tax credit

Taxpayers cannot receive the rebate if they received any other state tax benefit (rebate, credit, exemption, exclusion, or deduction) for the same inventory taxes

Applications must be submitted to the Department of Revenue by June 30th of the year following the inventory tax payment

Applies only to ad valorem tax payments made on or after January 1, 2026, with an effective date of January 1, 2027