House Bill No. by Representative Carver amends R.S. 47:1967(F) to modify the assessment of bank stocks for ad valorem tax purposes. The bill increases the percentage of the assessed value of real estate, improvements, buildings, furniture, and fixtures owned by banks that can be deducted from the assessment of bank stock from 50% to 100%. This change aims to provide a more favorable tax calculation for banks by allowing them to reduce their taxable bank stock value more significantly.

The bill retains existing provisions that require shares of bank stock to be assessed at 15% of their fair market value and applies to property taxes starting in the tax year 2026, with an effective date of January 1, 2026. The adjustments made by this legislation are intended to enhance the financial environment for banks operating in Louisiana by lowering their ad valorem tax liabilities.

Statutes affected:
HB222 Original: 47:1967(F)