The bill amends R.S. 47:1967(F) concerning the assessment of bank stock for ad valorem taxes in Louisiana. It increases the percentage of assessed value that can be deducted for assessment purposes from fifty percent to one hundred percent for certain properties owned by banks, including real estate, improvements, buildings, furniture, and fixtures. This change allows banks to benefit from a more favorable assessment calculation, potentially reducing their tax burden.

The provisions of this Act will take effect on January 1, 2026, unless vetoed by the governor and subsequently approved by the legislature, in which case it will become effective the day following such approval or on January 1, 2026, whichever is later. This timeline ensures that the changes to the assessment process are implemented in a structured manner, allowing for any necessary legislative review.

Statutes affected:
SB82 Original: 47:1967(F)
SB82 Engrossed: 47:1967(F)
SB82 Enrolled: 47:1967(F)
SB82 Act : 47:1967(F)