TAX/AD VALOREM TAX: Provides for the classification of certain marine vessels for purposes of ad valorem taxes (OR NO IMPACT LF RV See Note)

HB 571 reclassifies barge line and towing vessels for property tax purposes in Louisiana. It removes these marine vessels from the definition of "major movable property" and instead includes them under "other movable property" for ad valorem tax assessments. This change directly affects barge and towing companies operating in Louisiana, altering how their vessels are taxed. The bill takes effect for tax years beginning January 1, 2026.