Sections
Chapter 1 Exemptions From State and Local Taxes 47:6001 – 47:6043
Chapter 2 School Readiness Tax Credits 47:6101 – 47:6109
Chapter 2-A Maternal Wellness Center Tax Credits 47:6111 – 47:6116
Chapter 3 Credits for Donations to School Tuition Organizations 47:6301
Chapter 4 Procurement Processing Company Rebate Program 47:6351

Terms Used In Louisiana Revised Statutes > Title 47 > Subtitle VII - Miscellaneous Exemptions

  • Appraisal: A determination of property value.
  • Attending physician: means the physician who has primary responsibility for the treatment and care of the patient. See Louisiana Revised Statutes 40:1151.1
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Health care provider: means any health maintenance organization, home health agency, hospice, hospital, or nursing facility. See Louisiana Revised Statutes 40:1151.1
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • Legacy: A gift of property made by will.
  • Life-sustaining procedure: means any medical procedure or intervention which, within reasonable medical judgment, would serve only to prolong the dying process for a person diagnosed as having a terminal and irreversible condition, including such procedures as the invasive administration of nutrition and hydration and the administration of cardiopulmonary resuscitation. See Louisiana Revised Statutes 40:1151.1
  • Minor: means a person under eighteen years of age. See Louisiana Revised Statutes 40:1151.1
  • Personal property: All property that is not real property.
  • Physician: means a physician or surgeon licensed by the Louisiana State Board of Medical Examiners or by the official licensing authority of another state. See Louisiana Revised Statutes 40:1151.1
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Registry: means a registry for declarations established and maintained by the secretary of state pursuant to this Subpart. See Louisiana Revised Statutes 40:1151.1
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Spouse: means a person who is legally married to the qualified patient but does not include a spouse who is judicially separated from the patient, is cohabited with another person in the manner of married persons, or who has been convicted of any crime of violence as defined in La. See Louisiana Revised Statutes 40:1151.1
  • Subtitle: means and includes all the Chapters in Subtitle II of this Title 47 and any other Title of the Louisiana Revised Statutes of 1950 except the provisions of Chapter 1 of Subtitle IV of Title 47 of the Louisiana Revised Statutes of 1950 and estate taxes for the assessment, collection, administration, and enforcement of taxes, fees, licenses, penalties, and interest due the state of Louisiana which have been delegated to the Department of Revenue. See Louisiana Revised Statutes 47:1501
  • Terminal and irreversible condition: means a continual profound comatose state with no reasonable chance of recovery or a condition caused by injury, disease, or illness which, within reasonable medical judgment, would produce death and for which the application of life-sustaining procedures would serve only to postpone the moment of death. See Louisiana Revised Statutes 40:1151.1
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.