HB1124

Louisiana HB1124 provides an optional exemption for business inventory from ad valorem taxes and allows for partial exemptions based on fair market.

HB1124 amends Louisiana law to offer an optional exemption for business inventory from ad valorem taxes, contingent on agreements between the sheriff, school board, and parish governing authority. It also allows for partial exemptions by reducing the percentage of fair market value applied to business inventory. The reduced percentage must be documented in writing and submitted to the Louisiana Tax Commission and parish tax assessor within 15 days of the agreement. The bill applies to tax years beginning on or after January 1, 2026.