LEGISLATIVE FISCAL OFFICE
Fiscal Note
Fiscal Note On: HB 94 HLS 21RS 500
Bill Text Version: ENROLLED
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: May 28, 2021 4:26 PM Author: FONTENOT
Dept./Agy.: Executive Department / Louisiana Tax Commission
Subject: Interim basis to levy and collect specific fees for certain svcs Analyst: Monique Appeaning
TAX COMMISSION, STATE EN SEE FISC NOTE SG RV See Note Page 1 of 1
Extends authority for imposition of certain fees levied by the Louisiana Tax Commission for the assessment of certain
properties.
Present law authorizes the Louisiana Tax Commission to impose fees for the assessment of public service, insurance company, and
financial institution properties. Present law sets the authorized period on an interim basis for the Louisiana Tax Commission to levy and
collect these specific fees in connection with services from July 1, 2018, through June 30, 2022. The fee amounts authorized in present
law are:
1) 0.0004 for public service properties
2) 0.0003 for insurance companies
3) 0.0003 for financial institutions
Proposed law changes the authorized period to levy and collect these fees to July 1, 2021, through June 30, 2026.
EXPENDITURES 2021-22 2022-23 2023-24 2024-25 2025-26 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0 $0
REVENUES 2021-22 2022-23 2023-24 2024-25 2025-26 5 -YEAR TOTAL
State Gen. Fd. $0 SEE BELOW SEE BELOW SEE BELOW SEE BELOW $0
Agy. Self-Gen. $0 SEE BELOW SEE BELOW SEE BELOW SEE BELOW $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0
EXPENDITURE EXPLANATION
There is no anticipated direct material effect on governmental expenditures as a result of this measure.
REVENUE EXPLANATION
Proposed law extends the authorized assessment of specific fees for public service properties, insurance companies, and financial
institutions imposed by the Louisiana Tax Commission (LTC) from 7/1/21 through 6/30/26. The LFO assumes that the assessment fee
would have been renewed as it has been historically, and that recent growth trends in the assessed value of these properties will remain
steady. The agency reports that failure to extend will have a negative impact on the agency’s operations by reducing revenue by 52% and
may may result in a need for SGF to maintain current operations. Total dedicated revenue associated with the bill is approximately
$2.53 M per year (see NOTE below), based on FY 21 projected revenues. For illustrative purposes, the information below represents the
actual revenue for LTC based on present law.
FY Public Service Properties
Assessed Value Projected Revenue*
2018-19 $ 5,803,223,620 0.0004 $ 2,321,289
2019-20 $ 6,002,728,650 0.0004 $ 2,401,091
2020-21 $ 6,317,153,950 0.0004 $ 2,526,862
FY Financial Institutions
Assessed Value Projected Revenue*
2018-19 $ 707,945,660 0.0003 $ 212,384
2019-20 $ 765,294,330 0.0003 $ 229,588
2020-21 $ 809,079,980 0.0003 $ 242,724
FY Insurance Companies
Assessed Value Projected Revenue*
2018-19 $ 124,057,710 0.0003 $ 37,217
2019-20 $ 130,804,620 0.0003 $ 39,241
2020-21 $ 135,216,140 0.0003 $ 40,565
NOTE: The projected revenue represents the total amount to be collected based on the assessed value in the same year. The agency
reports that it generally receives approximately 90% of the revenue based on the assessed value. The revenue is collected by the
respective sheriff offices statewide and is subsequently sent to the Louisiana Tax Commission.
Senate Dual Referral Rules House
13.5.1 >= $100,000 Annual Fiscal Cost {S & H} 6.8(F)(1) >= $100,000 SGF Fiscal Cost {H & S}
Alan M. Boxberger
13.5.2 >= $500,000 Annual Tax or Fee 6.8(G) >= $500,000 Tax or Fee Increase
Change {S & H} Staff Director
or a Net Fee Decrease {S}


Statutes affected:
HB94 Original: 47:1838
HB94 Engrossed: 47:1838
HB94 Enrolled: 47:1838
HB94 Act : 47:1838