Creates the Louisiana New Start Education Tax Credit which grants a refundable tax credit per tax year for up to $4,000 (1) paid for tuition, fees, and other eligible costs required for a student who resides within the attendance zone of a failed public school to enroll in a qualified nonpublic elementary or secondary school or a college lab school or (2) contributed to an eligible nonprofit scholarship-funding organization which provides assistance to such students attending such schools. (1/1/12) (OR SEE FISC NOTE GF RV See Note)
Creates a state commission (SCORE) to submit a written plan by January 6, 2012, to reduce and eliminate state income taxes, recommend budget reduction actions, and reduce or eliminate tax benefits; provides that if a concurrent resolution containing the plan is adopted, then the phase-out of income tax over 10 calendar years begins and the governor and the commissioner of administration are directed to take certain budget reduction actions and submit budget reduction legislation. (See Act) (RR1 +$120,000,000 GF RV See Note)
Provides for the levy of state use tax on the purchase of property and services which are used to be manufactured into items for use in "orbital environments" 500 miles above earth's surface if the sale does not occur in the state and dedicates all state tax collected to make grants to such manufacturers. (10/1/11) (EG DECREASE GF RV See Note)
Provides relative to premium tax credits under the Louisiana Entrepreneurial Assistance and Development (LEAD) program. (8/15/11) (EN -$37,500,000 GF RV See Note)
Phases down the highest individual income tax and estate and trust tax rate from 6% to 4% over a four-year period starting for tax beginning in 2013. (gov sig) (OR -$20,500,000 GF RV See Note)
Provides for a state sales and use tax exemption for certain transactions related to certain inhibitors and certain complex biologics. (7/1/11) (OR -$4,800,000 LF RV See Note)
Extends termination of the state sales and use tax exclusion for certain alternative substances used as fuel by manufacturers. (gov sig) (OR NO IMPACT GF RV See Note)
Authorizes the issuance of $30 million more New Market Tax Credits, provides for when the credits may be issued and taken on a return, and extends the period tax credits are allowed from ending on December 31, 2013, to an indefinite period if the qualified equity investment is issued prior to December 31, 2014. (gov sig) (EN -$30,000,000 GF RV See Note)
Phases in an exemption of certain capital gains income of individuals 65 years of age or older from state individual income tax. (gov sig) (EG -$4,600,000 GF RV See Note)