Senate Bill No. 82, introduced by Senator Reese, amends the existing law regarding ad valorem taxes on bank stock in Louisiana. The bill specifically modifies R.S. 47:1967(F) to increase the percentage of assessed value that can be deducted for assessment purposes from 50% to 100% for real estate, improvements, buildings, furniture, and fixtures owned by banks. This change aims to provide a more favorable tax treatment for banks by allowing them to deduct a greater portion of their assessed value when calculating their ad valorem tax obligations.

The provisions of this bill 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. The bill retains the current law's framework regarding the taxation of bank stock while enhancing the deductions available to banks, thereby potentially reducing their overall tax burden.

Statutes affected:
SB82 Original: 47:1967(F)