Constitutional Amendment to exempt from ad valorem taxation certain property delivered to a construction site. (2/3 - CA13s1(A)) (EN SEE FISC NOTE LF RV See Note)
Impact
The bill's passage is expected to reconfigure how property taxes are assessed during construction phases by enabling builders and developers to avoid taxation on materials until the project completion. This measure aims to promote growth in the construction sector, making it more economically viable to undertake new projects and enhance infrastructure development. However, such changes could also have implications for local government tax revenues, which rely on property taxes as a significant source of income.
Summary
Senate Bill 140 proposes an amendment to Article VII of the Louisiana Constitution, which aims to provide exemptions from ad valorem taxation for certain materials delivered to construction project sites. The intention behind the bill is to encourage construction and potentially stimulate economic development by alleviating some financial burdens associated with property taxes on materials used in construction. The exemption is proposed to remain in effect until the construction project is deemed complete, with specific conditions outlined surrounding what constitutes completion.
Sentiment
The sentiment around SB 140 appears to be largely supportive, as it aligns with efforts to bolster the construction industry. Proponents argue that such tax exemptions are necessary to attract and retain businesses involved in construction, thus aiding the overall economy. Nevertheless, some concerns may arise regarding the long-term impact on state and local revenue, potentially leading to discussions among lawmakers about financial sustainability and the equitable distribution of tax responsibilities.
Contention
Debates around SB 140 may center on the implications of granting exemptions to construction materials, particularly regarding equity in tax burdens between different sectors. Opponents might argue that such exemptions, while beneficial to builders, could exacerbate funding challenges for local governments, which may struggle to provide services and infrastructure without sufficient tax revenue. This contention may lead to further discussions on balancing economic incentives with the financial health of local governments.
(Constitutional Amendment) Establishes an ad valorem tax exemption for certain property subject to a cooperative endeavor agreement requiring the property owner to make payments in lieu of taxes (Item #28) (OR SEE FISC NOTE LF RV See Note)
(Constitutional Amendment) Authorizes an additional ad valorem tax exemption for certain property owners aged sixty-five and older (EN SEE FISC NOTE LF RV See Note)
(Constitutional Amendment) Establishes an ad valorem tax exemption for capital investment projects and for certain property subject to a cooperative endeavor agreement requiring the property owner to make payments in lieu of taxes (Item #28) (EG SEE FISC NOTE LF RV See Note)
Constitutional Amendment to authorize a parish governing authority to increase the homestead exemption. (2/3- CA13s1(A))(1/1/27) (OR SEE FISC NOTE LF RV)
(Constitutional Amendment) Authorizes a property tax exemption for blighted or derelict properties that have been rehabilitated (EN SEE FISC NOTE LF RV See Note)
Constitutional Amendment to authorize the local governing authority of a parish to provide an increase to the homestead exemption. (2/3-CA13s1(A)) (OR SEE FISC NOTE LF RV See Note)
Constitutional amendment to authorize the local governing authority of a parish to provide an increase to the homestead exemption. (2/3-CA13s1(A)) (OR SEE FISC NOTE LF RV)
(Constitutional Amendment) Authorizes certain agreements that provide for payments in lieu of ad valorem taxes (Item #28) (EG SEE FISC NOTE LF RV See Note)
(Constitutional Amendment) Provides relative to assessment and reappraisal of property for ad valorem tax purposes and establishes a property tax exemption (OR SEE FISC NOTE LF RV)
Relating to an exemption from ad valorem taxation of the amount of the appraised value of real property located in certain counties that arises from the installation or construction on the property of border security infrastructure and related improvements and to the consideration of the price paid by certain governmental entities for a parcel of or easement in real property purchased for the purpose of installing or constructing such infrastructure when appraising other real property.
Prohibits utility from billing customer for costs incurred for certain upgrades to utility infrastructure; allows costs for certain upgrades to utility infrastructure be recovered in utility's rate base.
Prohibits utility from billing customer for costs incurred for certain upgrades to utility infrastructure; allows costs for certain upgrades to utility infrastructure be recovered in utility's rate base.