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Bill would let Louisiana parishes opt out of business inventory tax for one-time payment or phased buyout
Summary
House Bill 11 would keep the homestead exemption in the constitution while moving most other property-tax exemptions into statute and offer parishes an optional one-time payment (or a five‑year phase-out) in exchange for exempting business inventory tax; committee deferred HB 11 for amendments and will vote tomorrow.
Representative Desotel told the Senate Committee on Revenue and Fiscal Affairs that House Bill 11 would keep the homestead exemption in the constitution but move other property‑tax exemptions, the special assessment level and provisions related to millage into statute. "What HB 11 actually does is it keeps our homestead exemption in the constitution, but moves all the other exemptions into statute," the sponsor said.
Desotel said the bill’s central feature is an optional parish-level process to eliminate the business inventory tax in exchange for a one‑time payment tied to 2023 inventory‑tax collections or, alternatively, a one‑time…
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