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Regular Session, 2010
SENATE CONCURRENT RESOLUTI ON NO. 93
BY SENATOR PETERSON
TAX/TAXATION. Requests the Senate Committee on Revenue and Fiscal Affairs, the
House Committee on Ways and Means, and the secretaries of the Department of Revenue
and Natural Resources to meet as a special committee to study a reform of the income-
reporting laws and the various exclusions, exemptions, credits, deductions, and other
economic incentives granted by state law to large, multinational conglomerates which
engage in offshore oil and gas exploration and production.
A CONCURRENT RESOLUTI ON1
To request the Senate Committee on Revenue and Fiscal Affairs, the House Committee on2
Ways and Means, and the secretaries of the Department of Revenue and Natural3
Resources to meet as a special committee to study a reform of the income-reporting4
laws and the various exclusions, exemptions, credits, deductions, and other economic5
incentives granted by state law to large, multinational conglomerates which engage6
in offshore oil and gas exploration and production and to recommend which of those7
benefits should be modified, reduced, or eliminated.8
WHEREAS, the state of Louisiana is one of the major operation centers for oil and9
gas exploration, production, and transmission in the United States, having the benefit but10
bearing the significant burdens of providing the country with the fuel upon which it runs;11
and12
WHEREAS, Louisiana's experience with this business has also made it aware that13
the major players in the field sometime tend to place a low priority on remedying the bad14
side-effects of their business on the state and ignoring their liability for those side-effects;15
and16
WHEREAS, that tendency has been best illustrated in the past by the harm done to17
Louisiana's fragile and indispensable wetlands and barrier islands; and18 SCR NO. 93
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WHEREAS, the reaction of BP and the other businesses obviously responsible for1
the current, catastrophic oil spew off Louisiana's coast - the lack of preparation for the2
consequences of a blowout; the finger-pointing; the duplicity or ignorance concerning the3
size of the spill - all raise doubt about the sincerity of BP's claim that it will be responsible4
for all costs of the clean up; and5
WHEREAS, the existence of a federal law capping the liability for oil spills and the6
extended delay in successfully stopping the gushing oil increases the chances that the effects7
of the spill will be felt far from its site - affecting other states besides Louisiana, even as far8
away as the states on the east coast of the United States - thus making the prospect that9
Louisiana will be fully compensated for all the effects of the spill even more doubtful; and10
WHEREAS, the failure by BP to repair the huge damage it has caused and11
compensate the state for it would have a catastrophic effect on the state's economy and12
environment; and 13
WHEREAS, BP is only one of many large, multinational conglomerates which14
engage in mineral exploration and production offshore and are the beneficiary of both an15
antiquated income reporting system which allows them to shelter income from their16
operations and of various tax exclusions, exemptions, credits, deductions, and other17
economic incentives granted by the state.18
THEREFORE, BE IT RESOLVED that the Legislature of Louisiana requests that19
the Senate Committee on Revenue and Fiscal Affairs, the House Committee on Ways and20
Means, and the secretaries of the Department of Revenue and Natural Resources meet and21
function as a special committee to study a reform of the income-reporting laws, including22
combined and unitary reporting, and to study the various exclusions, exemptions, credits,23
deductions and other economic incentives granted by state law to large, multinational24
conglomerates which engage in offshore oil and gas exploration and production, and which25
have been shown to be subjecting the economy and environment of both the state of26
Louisiana and the United States to catastrophic danger, and to recommend which of those27
benefits should be modified, reduced, or eliminated.28
BE IT FURTHER RESOLVED that a copy of this Resolution be provided to the29
secretaries of the Department of Revenue and Department of Natural Resources.30 SCR NO. 93
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The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Riley Boudreaux.
DIGEST
Peterson SCR No. 93
Requests the Senate Committee on Revenue and Fiscal Affairs, the House Committee on
Ways and Means, and the secretaries of the Department of Revenue and the Department of
Natural Resources to meet as a special committee to study a reform of the income reporting
laws and the various exclusions, exemptions, credits, deductions and other economic
incentives granted by state law to large, multinational conglomerates which engage in
offshore oil and gas exploration and production and to recommend which of those benefits
should be modified, reduced, or eliminated.