Urge and requests the Louisiana Department of Revenue to categorize the tax expenditures in the Tax Exemption Budget using the provided categories
Impact
The resolution calls for a systematic categorization of tax expenditures, which could lead to more efficient financial planning and analysis within the state. By organizing tax exemptions into specified categories such as Ad Valorem/Inventory Tax and Agricultural/Rural, stakeholders will have a clearer view of where tax revenue is being allocated. This could also help legislators make informed decisions about future tax policies, ensuring that the impact of tax exemptions is understood and considered in the broader context of the state budget.
Summary
House Concurrent Resolution 12 (HCR12) urges the Louisiana Department of Revenue to categorize tax expenditures within the Tax Exemption Budget. The resolution addresses the need for a more structured and navigable document that clearly outlines each tax exemption, its statutory citation, and purpose. The proposed categorization aims to enhance transparency for taxpayers and facilitate their understanding of how tax exemptions may affect state revenue and fiscal management.
Sentiment
The sentiment surrounding HCR12 appears to be pragmatic and focused on improving governmental processes. Supporters of the resolution likely view it as a positive step toward greater accountability and transparency in tax exemptions, particularly in light of ongoing discussions about state funding and revenue generation. There seems to be a general agreement that clearer categorization will benefit both legislators and taxpayers, although there may be concerns regarding the actual implementation and effectiveness of such a categorization system.
Contention
While HCR12 itself is largely uncontentious, the underlying issues of tax expenditure categorization may bring to light tensions concerning fiscal policy and resource allocation within Louisiana. Critics might argue about the effectiveness of categorizing tax expenditures if the underlying policies result in continued fiscal challenges for the state. Potential points of contention could include debates over the merits of certain tax exemptions or the prioritization of funds within state expenditure categories. Overall, the resolution suggests a step towards clearer governance, but practical challenges remain.
Urges and requests the secretary of the Department of Revenue to accept an individual taxpayer's federal income tax return extension as a taxpayer's extension of time to file his state income tax return
Urges and requests the Department of Revenue to reexamine their revenue ruling determination that a certain rate reduction and tax exemption is applicable to sellers of nonprepared foods
Urges and Requests the chairmen of the House Committee on Ways and Means and the Senate Committee on Revenue and Fiscal Affairs to establish a joint subcommittee to study state tax incentives and rebates (EG INCREASE GF EX See Note)
Creates the Task Force on Structural Changes in Budget and Tax Policy to continue the budget and tax reform evaluations begun in the 2016 First Extraordinary Session and urges and requests the governor to support and implement initiatives for structural change introduced in upcoming sessions that will lead to savings through more efficient and effective state operations
Urges and requests the Department of Culture, Recreation and Tourism, office of tourism, to study the feasibility of creating a bike and walking trail along the Mississippi River in Northeast Louisiana
Urges and requests the Louisiana Department of Health and other parties to study jointly the language in the Louisiana Code of Criminal Procedure Article 648
Requests the Louisiana State University Center for Energy Studies, Louisiana State University Public Administration Institute, and the Louisiana Tax Institute to analyze mineral revenues, taxes, and exemptions and submit a written report of its findings to the legislature.
Urges and requests the House Committee on Ways and Means and the Senate Committee on Revenue and Fiscal Affairs to review the goals and purposes of various tax exemptions, credits, and deductions