House Bill No. by Representative Carver amends the classification of certain marine vessels for ad valorem tax purposes by modifying the definitions of "major movable property" and "other movable property" in R.S. 47:1851. Specifically, the bill removes barge line and towing vessels from the definition of "major movable property" and includes them within the definition of "other movable property." This change aims to clarify the classification of these vessels for tax assessment, ensuring they are treated differently from other types of movable property.

The bill is set to take effect on January 1, 2026, and will apply to tax years beginning on or after that date. The proposed changes are intended to align the classification of barge line and towing vessels with their operational characteristics, thereby impacting how they are assessed for ad valorem taxes in Louisiana.

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