Authorizes local taxing authorities to enter into cooperative endeavor agreements that provide for stipulated tax payments. (See Act) (OR SEE FISC NOTE LF RV See Note)
Impact
The bill's passage would significantly alter the landscape of local taxation in Louisiana. It allows local governments greater latitude in fiscal negotiations with businesses, particularly in industrial sectors. This flexibility is designed to attract investment by providing financial incentives in the form of negotiated tax agreements. However, the focus on stipulated payments may also lead to disparities in tax revenues across different parishes, as some might leverage these agreements more effectively than others.
Summary
Senate Bill 346, introduced by Senator Walsworth, aims to empower local ad valorem taxing authorities in Louisiana to enter into cooperative endeavor agreements that allow for stipulated tax payments on property taxes. This legislation targets property owners within parishes where manufacturing, industrial, or commercial operations are newly established or expanded. By enabling local governments to negotiate tax payments directly with property owners, SB346 seeks to encourage economic growth, streamline tax arrangements, and bolster development initiatives.
Sentiment
The sentiment surrounding SB346 is generally supportive among business proponents who argue that it offers a proactive approach to stimulate economic activity by making tax obligations more manageable for new and existing businesses. Local governments stand to benefit from increased investment opportunities. Conversely, opponents express concern that such agreements might undermine fair tax distribution and create inequities among non-participating taxing authorities, potentially complicating local fiscal dynamics.
Contention
A key point of contention within SB346 is the establishment of advisory committees tasked with overseeing these cooperative endeavor agreements. While supporters argue that these committees enhance transparency and public participation, critics fear they could increase bureaucratic hurdles and limit the speed of negotiations necessary to attract businesses. Additionally, the bill stipulates that any agreed-upon tax arrangement should only bind participating authorities, raising concerns about the implications for non-participating taxing bodies and their revenue streams.
Authorizes local taxing authorities to enter into cooperative endeavor agreements that provide for payments in lieu of taxes (Item #28) (RE SEE FISC NOTE LF RV See Note)
Authorizes local taxing authorities to enter into cooperative endeavor agreements that provide for payments in lieu of taxes (OR SEE FISC NOTE LF RV See Note)
Authorizes and provides for cooperative endeavor agreements between local governmental subdivisions and other entities that may require payments in lieu of ad valorem taxes (OR SEE FISC NOTE LF RV See Note)
Authorizes and provides for cooperative endeavor agreements between local governmental subdivisions and other entities that may require payments in lieu of ad valorem taxes (OR SEE FISC NOTE LF RV)
Constitutional amendment to authorize local taxing authorities to enter into cooperative endeavor agreements to negotiate stipulated tax payments of ad valorem taxes. (2/3-CA13s1(A)) (OR SEE FISC NOTE LF RV)
(Constitutional Amendment) Authorizes local taxing authorities to enter into cooperative endeavor agreements for the purpose of authorizing payments in lieu of taxes (OR SEE FISC NOTE LF RV See Note)
Authorizes and provides for cooperative endeavor agreements between local governmental subdivisions and other entities that may require payments in lieu of ad valorem taxes (RE1 SEE FISC NOTE LF RV See Note)
Authorizes and provides for cooperative endeavor agreements between local governmental subdivisions and other entities that may require payments in lieu of taxes (RE SEE FISC NOTE LF RV See Note)
Authorizes and provides for an ad valorem tax exemption that allows cooperative endeavor agreements between taxing authorities and non-residential property owners that require payments in lieu of ad valorem taxes (OR SEE FISC NOTE LF RV See Note)
(Constitutional Amendment) To authorize local taxing authorities to enter into cooperative endeavor agreements for the purpose of payments in lieu of taxes (Item #28) (OR SEE FISC NOTE LF RV See Note)
Authorizes local taxing authorities to enter into cooperative endeavor agreements that provide for payments in lieu of taxes (Item #28) (RE SEE FISC NOTE LF RV See Note)
Transfers the responsibilities of the Atchafalaya Basin Research and Promotion Board and the Atchafalaya Basin Program from within the Department of Natural Resources to the Coastal Protection and Restoration Authority. (7/1/18) (EN SEE FISC NOTE SD EX See Note)
Creates the "Transparent Responsible Use of State Tax-dollars (T.R.U.S.T.) Act" to provide for appropriation requirements for nongovernmental entities. (2/3-CA7s2.1(A)) (gov sig) (OR SEE FISC NOTE GF EX)
Enacts Alison Neustrom Act and provides relative to prescribed marijuana for therapeutic uses and the development of rules and regulations by the Louisiana Board of Pharmacy and the Louisiana State Board of Medical Examiners. (gov sig)