The bill amends R.S. 47:1855(G)(2) to revise the allocation of assessed values for major movable or other movable property owned by nonresident companies in Louisiana. The previous provision, which allocated such property solely to East Baton Rouge Parish, has been replaced with a new allocation methodology based on the ratio of active railroad track miles within a parish to the total miles in the state. This change aims to distribute the assessed values more equitably among Louisiana parishes.

Under the new methodology, starting from the taxable period beginning January 1, 2026, a gradual shift in allocation will occur. Initially, 25% of the assessed value will be allocated to Louisiana parishes, increasing to 50% in 2027, 75% in 2028, and ultimately 100% by 2029. Additionally, if an assessor certifies the presence of identifiable major movables in their parish, the value of those movables will be allocated to that parish, with the remainder distributed according to the new ratio. The Louisiana Tax Commission is tasked with publishing the necessary data to support this allocation process.

Statutes affected:
SB179 Original: 47:1855(G)(2)
SB179 Engrossed: 47:1855(G)(2)
SB179 Reengrossed: 47:1855(G)(2)
SB179 Enrolled: 47:1855(G)(2)
SB179 Act : 47:1855(G)(2)