On Monday, September 28, 2020, the Louisiana Legislature will convene for 30 calendar days in the second special session of 2020. While special sessions are nothing unusual for Louisiana state lawmakers—there have been nine called in the last five years—this will be the second time this year (and in recent memory) the Legislature has exercised its state constitutional authority to call itself into session without direction from the governor.
In the second special session call, Senate President Page Cortez and House Speaker Clay Schexnayder provided a broad and lengthy list of items that may be considered by legislators, though the primary objectives to be addressed will be:
- Hurricane Laura relief and recovery
- COVID-19-related issues
- The state’s Unemployment Trust Fund
Of the 70 items listed in the call, notable tax-related issues include:
- Tax credits, incentives, rebates, exclusions, exemptions, deferments, and abatements to provide relief during declared states of emergency and disaster (Item No. 26)
- Certain unemployment taxes, surtaxes, and assessments (Item No. 30)
- Severance taxes involving certain agricultural and timber products due to a declared state of emergency or disaster (Item No. 34)
- State sales and use tax exclusions for certain re-leases or re-rentals of tangible personal property (Item No. 56)
- Suspension of severance taxes on oil and gas wells (Item No. 61)
- Tax incentives for certain businesses (Item No. 65)
- Taxing authority for economic development districts (Item No. 66)
The special session will begin at 6:00 p.m. on September 28, 2020 and conclude no later than 6:00 p.m. on October 27, 2020. The second special session call can be viewed in its entirety on the state’s website.
TECHNICAL INFORMATION CONTACTS:
Susan Bittick
Principal
Ryan
916.414.0400
susan.bittick@ryan.com
Sharon Welhouse
Principal
Ryan
512.960.1146
sharon.welhouse@ryan.com
Matt Zagotti
Director
Ryan
225.334.0040
matt.zagotti@ryan.com
Matthew Grabner
Senior Manager
Ryan
512.960.1147
matthew.grabner@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.