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, with specific percentages allocated to East Baton Rouge Parish over the next few years.

Under the new methodology, starting from the taxable period beginning January 1, 2026, 25% of the assessed value will be allocated to Louisiana parishes, increasing to 50% in 2027, 75% in 2028, and ultimately 100% in 2029 and beyond. Additionally, the bill mandates that the Louisiana Tax Commission publish annual data on the miles of active railroad track to facilitate this allocation process. The provisions of this Act will take effect for taxable periods starting on or after January 1, 2026.

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)