Requests the Louisiana Tax Institute to study Louisiana's tax expenditures and all other government programs and grants in order to determine which programs provide the greatest benefit and assistance to Louisiana-owned small businesses. (EN NO IMPACT See Note)
The resolution aims to create a more favorable economic environment for small businesses in Louisiana by promoting the effective utilization of existing tax benefits and state programs. It seeks to ensure that small businesses can thrive amid the broader economic landscape, particularly as they face greater burdens from state and local taxes compared to larger entities. The findings from this study could inform policy adjustments to bolster support for small business operations throughout Louisiana, enhancing their capacity to contribute to the state’s economy.
Senate Resolution No. 168, introduced by Senator Jackson, urges the Louisiana Department of Economic Development, in collaboration with the Department of Revenue, to conduct a comprehensive study on the state's tax expenditures and government programs. The primary focus of this study is to assess which programs and financial provisions most effectively assist Louisiana-owned small businesses. This resolution underscores the significance of small businesses as a foundation for the state’s economy and highlights the need for tailored fiscal policies that support their growth and sustainability.
The sentiment around SR168 appears to be positive, reflecting a legislative intent to foster small business growth and acknowledge their vital role in the economy. Lawmakers and stakeholders likely view this resolution as a proactive approach to understand and optimize tax benefits, suggesting a collective desire to strengthen the small business sector in Louisiana. This reflects a broader consensus on the need to eliminate barriers that impede small business success.
While SR168 focuses on gathering information to benefit small businesses, potential points of contention may arise surrounding the interpretation of the findings and subsequent recommendations. Certain stakeholders may argue about which tax expenditures or programs should be prioritized, reflecting differing opinions on how best to allocate resources and support to the small business sector. Additionally, concerns could surface regarding the equitable impact of tax policies on diverse business communities, which could complicate consensus on legislative outcomes following the study.