Louisiana Senate Bill SB70

Louisiana 2015 Regular Session

• Introduced: 3/31/15
• Refer: 3/31/15
• Refer: 4/13/15

Caption

Extends until July 1, 2019, certain sales and use tax exemptions and exclusions. (gov sig)

Impact

The extension of the sales tax exclusion affects the definitions related to retail sales and the use of alternative substances for fuel in manufacturing. By attempting to alleviate tax burdens on manufacturers using alternative fuels, SB70 promotes an economic environment that encourages sustainability and innovation within Louisiana's manufacturing sector. The bill is viewed as a significant step in aligning state law with current industry practices and supporting environmental goals by incentivizing the use of cleaner fuel alternatives.

Summary

Senate Bill 70 proposes to extend the state sales and use tax exclusion for certain alternative substances utilized as fuel by manufacturers until July 1, 2019. This legislation builds upon existing laws that define alternative substances and establish parameters for how they can be exempt from sales tax. The aim of the bill is to promote the utilization of alternative fuels in manufacturing processes, which is seen as a forward-thinking approach to enhance the state's industrial sector and encourage the adoption of diverse energy sources.

Sentiment

The overall sentiment surrounding SB70 appears to be positive, with the belief that extending tax exemptions for alternative fuels is beneficial for manufacturers and the state economy. Supporters argue that this initiative will attract investment and encourage manufacturers to utilize more environmentally friendly practices. However, there may be underlying concerns regarding the fiscal implications of extending such tax exemptions, as they could affect state revenue.

Contention

Notable points of contention regarding SB70 include the balance between fostering industry growth through tax incentives and the potential loss of state revenue amidst budgetary constraints. Critics may raise concerns about the long-term implications of continued tax exemptions and whether they effectively promote sustainable practices or merely benefit certain sectors without broader environmental advancements.