This bill amends existing Louisiana law to establish the city of St. George's exclusive authority to levy, collect, administer, and enforce an insurance premium tax starting January 1, 2027. It introduces a new definition for "insurance premium tax," which is described as a municipal license tax imposed on insurers based on premiums written for risks located within the city's jurisdiction. The bill also specifies that the city of Baton Rouge and East Baton Rouge Parish will not have the authority to levy or collect any insurance premium tax on risks within St. George's corporate limits, ensuring that insurers are only subject to one local insurance premium tax for a given risk and period.

Additionally, the bill repeals previous provisions that allowed East Baton Rouge Parish to continue levying a parish tax within St. George's limits under certain conditions. It allows for intergovernmental agreements between the city and the parish solely for administrative purposes, such as records transfer, but prohibits any continued collection of the insurance premium tax by the parish. The provisions of this Act will apply prospectively to premiums attributable to periods beginning on or after January 1, 2027.

Statutes affected:
SB485 Original:
SB485 Engrossed:
SB485 Reengrossed:
SB485 Enrolled:
SB485 Act 904: