Louisiana House Bill HCR44

Louisiana 2010 Regular Session

• Introduced: 3/29/10
• Refer: 3/30/10
• Report Pass: 4/21/10
• Engrossed: 5/3/10
• Report Pass: 5/17/10
• Passed: 5/25/10

Caption

Urges and requests Coastal Protection and Restoration Authority to study the practicality and feasibility of the state authorizing tax credits for certain coastal preservation projects

Impact

The proposed study aims to assess whether tax credits could incentivize businesses to engage in coastal restoration activities on their properties. Important considerations include determining the appropriate amount for the credits, what mitigation projects would qualify, and how such a program would be managed. The resolution underscores the importance of balancing fiscal responsibility with potential economic benefits and environmental impact, aiming to establish whether the financial commitments required for implementing tax credits would yield substantial advantages in protecting Louisiana's coast.

Summary

House Concurrent Resolution No. 44 (HCR44) urges the Coastal Protection and Restoration Authority to study the economic feasibility and practicality of authorizing tax credits for certain costs and expenses incurred in the mitigation of coastal property deterioration. The resolution highlights the significance of Louisiana's coastline, which holds 30% of the total coastal marsh area in the lower 48 states but accounts for a staggering 90% of coastal marsh loss. The implications of coastal land loss are serious, with projections suggesting continued significant degradation despite ongoing restoration efforts.

Sentiment

While detailed voting history and debate points were not provided, the introduction of tax credits for coastal restoration likely generates mixed sentiments. Proponents may view such incentives as essential for fostering local engagement in environmental preservation, supporting both sustainability and economic growth. Conversely, concerns may arise regarding state obligations created by tax incentives, especially in light of existing financial challenges and the delicate balance of state spending priorities.

Contention

Key points of contention surrounding HCR44 include the effectiveness of tax credits as a tool for coastal preservation and the responsibilities of the state in managing such a program. Questions on the administration of tax credits, as well as the direct impact these incentives would have on the actual restoration efforts, will likely emerge during the study. Balancing environmental needs with economic implications presents an ongoing challenge for legislators and stakeholders involved in the coastal restoration discourse.