Louisiana Senate Bill SR197

Louisiana 2013 Regular Session

• Introduced: 6/5/13
• Passed: 6/6/13

Caption

Requests the Senate Committee on Revenue and Fiscal Affairs to study the potential benefit of an economic tax incentive to vessel owners that purchase boats and barges built in the state and for those who domicile their vessel operations/home base within the state.

Impact

The resolution aims to encourage the construction of inland and coastal marine equipment within Louisiana, with an emphasis on creating jobs and attracting business investment. By studying the feasibility and implementation of tax incentives, the state seeks to maintain and attract both resident and non-resident business owners, thereby contributing to the overall economic development of the region.

Summary

Senate Resolution 197, sponsored by Senator Chabert, urges the Senate Committee on Revenue and Fiscal Affairs to conduct a study on the potential benefits of offering economic tax incentives to vessel owners who purchase boats and barges made in Louisiana, as well as those who establish their vessel operations within the state. The resolution reflects Louisiana's commitment to bolstering its business-friendly environment and fostering local ship-building industries, thereby promoting economic growth through business investment.

Sentiment

The sentiment surrounding SR197 is positive, as it is framed as a proactive measure to enhance the local economy. Supporters believe that providing tax incentives could potentially stimulate the ship-building industry in Louisiana, which has faced competition from manufacturers in other states and countries. However, the resolution does not outline any opposition or notable points of contention, indicating a largely supportive stance among legislators regarding the initiative.

Contention

While SR197 does not seem to present significant points of contention, the effectiveness of such economic incentives could be debated once specific legislation is proposed. It remains to be seen how such incentives would be structured, funded, and their long-term effects on the state's economy and specific industries. The call for a study implies that further analysis will be necessary to address these potential concerns and to ensure that any proposed benefits truly outweigh any fiscal implications.