In these final days of the 2023 legislative session, we’re in a bit of holding pattern on the last of our priority bills.
Senator Allain’s SB 5, which provides for alternatives in lieu of payment under protest for certain ad valorem tax assessments, is waiting on a final vote in the House.
Representative McFarland’s HB 634, which provides clarity to the definition of when the Deep Well Exemption begins, is waiting on a final vote in the Senate.
Representative Romero’s HB 398, which would provide GPS tracking units on all life jackets on helicopters transporting from offshore, has been passed by both chambers and is on the Governor’s desk for his signature or veto.
We are closely monitoring Speaker Schexnayder’s HB 571, which would create a broader set of rules for Louisiana’s carbon capture industry in anticipation of a large number of projects in the coming years, as well as give 30% of the money collected by the state for carbon stored underneath state-owned property to local governments. That bill is awaiting a vote in the full Senate.
Lastly, Senator Allain’s SB 1, which would repeal the corporate franchise tax, is also waiting on a full vote in the House.
If we can get all five of these passed and signed by the Governor, this session would be seen as a huge win for our industry.