HLS 16RS-1075 ORIGINAL
2016 Regular Session
HOUSE BILL NO. 666
BY REPRESENTATIVE SCHRODER
TAX EXEMPTIONS: Requires the appropriation of certain tax expenditures
1 AN ACT
2To amend and reenact R.S. 39:51(E) and (F) and to enact R.S. 39:34(F) and 51(G) and R.S.
3 47:1675(K), relative to the appropriation of tax expenditures; to provide for
4 definitions; to provide for the appropriation of tax expenditures in the General
5 Appropriation Bill and the executive budget; to provide for certain limitations; and
6 to provide for related matters.
7Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 39:51(E) and (F) are hereby amended and reenacted and R.S.
939:34(F) and 51(G) are hereby enacted to read as follows:
10 §34. Executive budget
11 * * *
12 F. The executive budget shall contain an appropriation for each tax
13 expenditure program administered by the state. The amount for each tax expenditure
14 program shall be listed in the same section of the executive budget as the budget
15 recommendation of the agency that grants or administers the tax exemption program.
16 As used in this Section, "tax expenditure program" shall mean each tax credit and
17 each tax rebate authorized by law.
18 * * *
19 §51. General Appropriation Bill; other appropriation bills
20 * * *
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 16RS-1075 ORIGINAL
HB NO. 666
1 E. The General Appropriation Bill shall contain appropriations for each tax
2 expenditure program. The appropriated amount for each tax expenditure program
3 shall be listed in the same section of the bill as the appropriations for each agency
4 and its programs for the ordinary operating expenses of the agency that grants or
5 administers the tax expenditure program. In this Section, "tax expenditure program"
6 shall mean each tax credit and each rebate authorized by law.
7 F. The Five Year Estimated Revenue Loss Chart from the most recent Tax
8 Exemption Budget prepared by the Department of Revenue shall be an appendix to
9 the General Appropriation Bill. The Joint Legislative Committee on the Budget shall
10 annually review and evaluate the Five Year Estimated Revenue Loss Chart.
11 F. G. Any appropriation bill in which a reduction in an appropriation is
12 authorized shall designate the reduction by placing parenthesis around the amount.
13 Section 2. R.S. 47:1675(K) is hereby enacted to read as follows:
14 §1675. General administrative provisions for credits against income and corporation
15 franchise tax; limitations on tax credits and rebates
16 * * *
17 K. Credit and rebate limited to appropriated amount. The total amount of
18 any tax credit or rebate granted by the Department of Revenue shall not exceed the
19 amount appropriated for each tax credit or rebate in the General Appropriation Bill
20 for each fiscal year. Any department administering the provisions of a tax credit or
21 rebate shall by rule establish the method of allocating available tax credits and
22 rebates including but not limited to a first-come, first-served system, reservation of
23 tax credits and tax rebates for a specific time period, or other method which the
24 department administering the provisions, in its discretion, may find beneficial to the
25 program.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 16RS-1075 ORIGINAL
HB NO. 666
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 666 Original 2016 Regular Session Schroder
Abstract: Requires certain tax expenditures to be appropriated and limits the amount of
each tax credit and rebate to the appropriated amount.
Proposed law requires the executive budget and the General Appropriation Bill to have an
appropriation for each tax expenditure program in the same section of law as the department
that grants or administers the program.
Proposed law defines "tax expenditure program" as each tax credit and each tax rebate
authorized by law.
Proposed law limits the amount of each tax credit or rebate to the amount appropriated in
the General Appropriation Bill for each fiscal year. Further requires the department
administering the provisions of a tax credit or rebate to establish the method of allocating
available tax credits or rebates.
(Amends R.S. 39:51(E) and (F); Adds R.S. 39:34(F) and 51(G) and R.S. 47:1675(K))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.