Louisiana 2015 Regular Session

Louisiana House Bill HB567

Introduced
4/3/15  
Refer
4/3/15  
Refer
4/3/15  
Refer
4/13/15  

Caption

Provides a sunset date for all tax rebates (OR INCREASE GF RV See Note)

Impact

The implications of HB 567 touch significant areas of state revenue and fiscal policy. By ending certain rebates, the state aims to streamline its tax incentive programs, potentially increasing the overall revenue available for other essential services. However, this move also raises concerns amongst stakeholders who benefit from these rebates, especially in sectors like education and large-scale economic development. Potential beneficiaries, such as school tuition organizations and mega-project operators, may face challenges adapting to the elimination of financial incentives that previously facilitated their operations.

Summary

House Bill 567 is a legislative proposal that aims to terminate various tax rebates in Louisiana effective January 1, 2018. The bill specifically targets rebates associated with donations to school tuition organizations, state sales and use tax contracts, and incentives for mega-projects. By implementing a sunset clause on these rebates, the bill seeks to cleanse the tax code of outdated or inefficient rebate programs. The proposed changes resonate with ongoing discussions about fiscal responsibility and the efficient allocation of state resources.

Sentiment

The sentiment surrounding HB 567 is mixed, reflecting a divide between fiscal conservatives who support eliminating unnecessary tax breaks and those who argue that such measures may hinder economic activity and growth. Proponents of the bill believe that terminating these incentives aligns with a more responsible use of taxpayer dollars, while opponents fear that it could disincentivize investment in crucial sectors like education and energy development. This divergence of opinions underscores the broader debate over how best to support both economic growth and responsible fiscal management.

Contention

Key points of contention surrounding HB 567 revolve around the impact of terminating tax incentives on local economies and educational funding. Critics argue that the cessation of rebates for school tuition organizations could adversely affect families seeking educational choices for their children, thereby reducing overall educational opportunities. Furthermore, concerns have been raised that stopping incentives for mega-projects could negatively influence job creation and regional economic benefits, leading to potential long-term consequences for Louisiana's economic landscape.

Companion Bills

No companion bills found.

Previously Filed As

LA HB635

Reduces all tax rebates (EN +$5,000,000 GF RV See Note)

LA SB183

Provides termination dates for certain tax incentive and rebate programs. (gov sig) (EN INCREASE GF RV See Note)

LA HB607

Provides a sunset date for all tax credits

LA HB173

Provides for continued effectiveness of reductions in the amount of certain rebates (OR +$15,000,000 GF RV See Note)

LA HB22

Repeals the three-year sunset of certain reductions to tax rebates (Item #11) (EN SEE FISC NOTE GF RV See Note)

LA HB659

Sunsets all tax credits

LA SB15

Provides for annual incentive expenditure program analysis. (Item #21) (gov sig) (EG +$109,600 GF EX See Note)

LA HB355

Provides for the comprehensive revision of the tax code and tax incentives (EG SEE FISC NOTE GF RV See Note)

LA SB23

Changes certain rebates to nonrefundable tax credits. (gov sig) (EG INCREASE GF RV See Note)

LA HB646

Provides for an incentive expenditure forecast (EG SEE FISC NOTE GF RV See Note)

Similar Bills

No similar bills found.