Over many weeks, ELFA has been closely tracking wide-ranging California COVID-19 related consumer credit legislation that has culminated in California Assembly Bill 2501, misleadingly titled COVID-19: Homeowner, Tenant, And Consumer Relief. The title is misleading because the bill was amended June 10 to sweep in and prohibit actions in the commercial sector for the first time. Express concern is focused on commercial vehicle-secured credit obligations being prohibited from commencing or continuing any judicial foreclosure action until Jan. 1, 2023. Major business organizations have quickly taken the lead position in opposing this expansive legislation that seeks to prohibit actions on everything from mortgages and rent to repossession of consumer and commercial vehicles. The bill has currently stalled, but the influential sponsor has sought reconsideration and ELFA will continue to track this measure closely.
Louisiana House Bill 22 A (First Extraordinary Session) would change the rate of compensation dealers are authorized to deduct for collection of sales and use taxes, change the aggregate amount they can retain per month and change the levies from which they can deduct the compensation by amending R.S. 47:306(A)(3)(a).
4 sessions interrupted due to COVID-19
34 states not in session
1 state in special session
With 11 states currently in session, your team at ELFA is working to review and, where needed, to address all legislation filed that impacts your interests. ELFA’s efforts are focused on identifying any and all measures that would wrongly infringe on the operations of ELFA members in the commercial sector, addressing those bills that require our attention and conversely promoting legislation that addresses industry needs. Of the 180,000 expected state legislative bills filed across the 50 states in 2020, ELFA estimates there will be in excess of 2,000 bills introduced this year that may impact our members’ interests. The COVID-19 crisis threatens multiple and unprecedented special sessions in states across the country. The prospect of full and part-time legislatures in session late into the year along with the unprecedented spread of gubernatorial executive orders only creates additional uncertainty in these already uncertain times.
Louisiana Legislation Responds to Pandemic
Following are bills that ELFA has been watching closely and that were filed during the First Extraordinary Session in Louisiana as states nationwide struggle with continuing challenges of the pandemic.Louisiana House Bill 22 A (First Extraordinary Session) would change the rate of compensation dealers are authorized to deduct for collection of sales and use taxes, change the aggregate amount they can retain per month and change the levies from which they can deduct the compensation by amending R.S. 47:306(A)(3)(a).
- Present law imposes a 4.45% state tax upon the sale, use, consumption, storage or rental of certain tangible personal property and services.
- Present law provides that the dealer shall be allowed to deduct and retain .935% of the total amount of taxes due for the purpose of compensating the dealer for accounting for and remitting the tax.
- House Bill 22 A changes the amount dealers may deduct and retain to 1.5% of the total amount of taxes due.
- Present law further provides that the aggregate state compensation for a dealer shall not exceed $1,500 per calendar month. House Bill 22 A increases this amount to $2,500 per calendar month.
- Present law provides that the calculation of the compensation shall be based only on the taxes levied pursuant to R.S. 47:302, 321, 331, and R.S. 51:1286. House Bill 22 A adds R.S. 47:321.21 to the list of levies upon which the calculation of compensation is based.
State Legislative Sessions: COVID-19 Impact
11 state legislatures in regular session4 sessions interrupted due to COVID-19
34 states not in session
1 state in special session
With 11 states currently in session, your team at ELFA is working to review and, where needed, to address all legislation filed that impacts your interests. ELFA’s efforts are focused on identifying any and all measures that would wrongly infringe on the operations of ELFA members in the commercial sector, addressing those bills that require our attention and conversely promoting legislation that addresses industry needs. Of the 180,000 expected state legislative bills filed across the 50 states in 2020, ELFA estimates there will be in excess of 2,000 bills introduced this year that may impact our members’ interests. The COVID-19 crisis threatens multiple and unprecedented special sessions in states across the country. The prospect of full and part-time legislatures in session late into the year along with the unprecedented spread of gubernatorial executive orders only creates additional uncertainty in these already uncertain times.
ELFA Presents State and Local Resources for Critical Coronavirus Information
To monitor the response of state and local governments to the coronavirus, ELFA’s state legislative tracking partners at Multistate Associates and Vertex have created helpful tools that provide our membership with the most state specific critical information available.- COVID-19 Policy Tracker - Multistate Associates has created a resource that provides a quick and easy reference to updates and information issued by state and key local health departments. This resource is updated regularly and is being used and monitored by state legislative, business leaders and experts across the country. The resource includes state of emergency declarations, executive orders, other sources of official information in all 50 states as well as some local jurisdictions by population. Learn More
- State Tax Filing Date Changes/Extensions - Vertex has created a resource showing states that have issued sales and use tax guidance in response to the COVID-19 crisis. Learn More
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Around the States
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2020