Louisiana House Bill HCR45

Louisiana 2010 Regular Session

• Introduced: 3/29/10
• Refer: 3/30/10
• Report Pass: 4/12/10
• Engrossed: 4/19/10
• Report Pass: 6/3/10
• Passed: 6/4/10

Caption

Urges and requests the Dept. of Economic Development to study the economic impact of the legislature authorizing a tax credit for certain barge line, towing, and water transportation companies

Impact

The resolution highlights the importance of understanding how a tax credit could foster growth within the barge line, towing, and water transportation industries, especially in light of economic slowdowns at both state and federal levels. By encouraging the Department of Economic Development to solicit input from impacted companies, the resolution seeks to ensure that stakeholders' perspectives are factored into any future considerations for legislation. A comprehensive analysis could lead to informed decisions that may bolster economic activity within these sectors.

Summary

House Concurrent Resolution 45 urges and requests the Department of Economic Development to analyze the potential economic impact of enacting a tax credit for ad valorem taxes assessed against public service properties owned by barge line, towing, and water transportation companies. This resolution acknowledges that such companies currently pay ad valorem taxes to political subdivisions in Louisiana and emphasizes the need for a study to evaluate the implications of introducing a tax credit similar to one proposed in a previous legislative session but ultimately did not pass.

Sentiment

The sentiment surrounding HCR45 appears to favor proactive measures for economic development, recognizing challenges faced by key industries in Louisiana. Legislators advocating for the resolution are inclined to support initiatives that could enhance the viability of these sectors, reflecting a consensus on the need for strategic economic growth measures. However, the resolution's non-binding nature suggests that it serves more as a request for study rather than an immediate legislative action.

Contention

While the resolution itself may not present direct points of contention, the previous attempt to legislate a similar tax credit (House Bill No. 460) failed to garner enough support to pass both chambers of the legislature. This may indicate underlying concerns or opposition towards such tax credits potentially from stakeholders who fear a loss of tax revenue for local governments. The outcome of the requested study may ultimately shed light on whether there remains significant support or resistance to this line of fiscal policy.