House Bill No. by Representative Carver amends the classification of certain marine vessels for ad valorem tax purposes in Louisiana. Specifically, the bill removes barge line and towing vessels from the definition of "major movable property" and reclassifies them under "other movable property." This change aims to clarify the tax treatment of these vessels, ensuring they are not included in the major movable property category, which encompasses various types of movable assets like locomotives and vehicles. The bill also retains existing definitions for other property classifications while making these specific adjustments.

The provisions of this bill will take effect on January 1, 2026, and will apply to tax years beginning on or after that date. The reclassification is intended to align the tax assessment process with the unique characteristics of barge line and towing vessels, thereby providing a clearer framework for property tax assessments in Louisiana.

Statutes affected:
HB571 Original: 47:1851(I)