Reduces the severance tax rate for oil over a certain period of time and specifies the severance tax rate for oil produced from certain wells (EG DECREASE GF RV See Note)
Creates the Louisiana Sales Tax Simplification Task Force to develop a comprehensive plan to simplify Louisiana's sales tax administration and collection system. (OR SEE FISC NOTE GF EX)
Establishes the office of debt recovery at the Dept. of Revenue for the collection of delinquent debts owed to certain governmental entities (EN SEE FISC NOTE GF RV See Note)
Authorizes DEQ to once again grant transferable credits for the investigation or remediation of hazardous waste "brownfields" sites on and after July 1, 2011 through December 31, 2013, clarifies that the credit may be granted to any public or private "entity" whether taxable or non-taxable, and specifically authorizes credits for the remediation of public parks, playgrounds and other recreational areas. (7/1/11) (EN DECREASE GF RV See Note)
Provides relative to the Louisiana Uniform Local Sales Tax Board and the Louisiana Sales and Use Tax Commission for Remote Sellers (EN SEE FISC NOTE 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)