Capitol Views by Maginnis: House backs bill to expand property tax exemptions
The categories of businesses that can receive property tax exemptions would be broadened by a proposed constitutional amendment that unanimously passed the House today. In addition to manufacturing enterprises—the only kind of business now eligible for ad valorem tax exemptions from the Board of Commerce and Industry—new types of eligible businesses would be: corporate headquarters, logistics, warehousing, data center, clean technology, destination health care, research and development, renewable energy, digital media and software development, or other business sectors targeted by the secretary of Louisiana Economic Development.
The business investments must be at least $25 million, and the applicant must be invited to participate by the secretary. The participation by parishes would be voluntary. Speaking for his bill, Rep. Joel Robideaux, R-Lafayette, said that the state's ad valorem program is dated and doesn't reflect the needs and opportunities of the modern economy. In an unrelated vote, the House also passed a bill today to grant tax rebates to contributors to public schools and learned it will take up the state's budget a week from today. Read all about it in the full column here.
(John Maginnis will publish a daily update throughout the legislative session on Daily Report PM. The report is also available to LaPolitics Weekly subscribers on the Subscribers Only page at LaPolitics.com. Registration is available on the homepage.)
Louisiana Public Broadcasting is providing a daily video update featuring highlights of the session, which you can see beginning at 6 p.m. here.
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