Louisiana House Bill HB1104

Louisiana 2012 Regular Session

• Introduced: 4/3/12
• Refer: 4/4/12
• Report Pass: 4/17/12
• Engrossed: 4/26/12
• Refer: 4/30/12
• Report Pass: 5/14/12
• Enrolled: 5/31/12
• Vetoed: 6/4/12
• Vetoed: 6/8/12

Caption

Requires state agencies which administer tax credits to report certain information (EN NO IMPACT GF EX See Note)

Impact

The passage of HB 1104 is expected to influence state laws by establishing stricter oversight of tax incentives offered through state agencies. The reporting requirements will provide lawmakers and the public with clearer insights into how tax incentives are functioning and whether they are beneficial to the intended businesses and industries. The bill empowers committees to hold hearings based on these reports, allowing for further analysis of tax incentives that result in revenue losses for the state, potentially leading to adjustments in legislation or administration of these programs.

Summary

House Bill 1104 mandates that state agencies responsible for administering tax credits or rebates must produce annual reports detailing the effectiveness and return on investment of these tax incentives. Specifically, the bill requires an assessment of whether the incentives meet their intended purposes, benefit the intended groups, and have any unintended effects or conflicts with existing state laws. This aims to enhance transparency and accountability within the state's tax incentive programs.

Sentiment

The sentiment surrounding HB 1104 appears to be largely positive among its supporters, who argue that it fosters accountability and ensures that tax benefits are justified and effective. Proponents include legislators who see the bill as a necessary step towards transparency in governmental financial practices. Nonetheless, there may be some dissent related to concerns over operational burdens placed on state agencies, as additional reporting requirements can strain resources.

Contention

Notable points of contention that surfaced during discussions of HB 1104 revolve around the extent of the reporting requirements and their potential impact on agency operations. Critics may argue that the bill could lead to bureaucracy that slows down the process of administering tax credits. Additionally, while supporters advocate for the increased transparency these reports will bring, others could voice concerns about the potential for misuse of proprietary information that agencies may need to disclose to complete their assessments.