Senate Committee on Revenue and Fiscal Affairs
April 24, 2023
9:30 A.M.
John J. Hainkel, Jr. Room
Adjourned
BLUE
= already considered.
RED
= currently being considered.
BLACK
= not yet considered.
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CALL TO ORDER
ROLL CALL
MINUTES TO BE APPROVED:
April 17, 2023
LEGISLATION TO BE CONSIDERED
SB1
BRET ALLAIN
TAX/FRANCHISE/CORPORATE
- Phases-out the corporate franchise tax. (See Act) (EN -$163,000,000 GF RV See Note)
SB2
BRET ALLAIN
TAX EXEMPTIONS
- Constitutional amendment to phase out the tax on inventory and establish the maximum allowable exemption for the industrial property tax exemption program. (2/3 - CA13s1(A)) (EG SEE FISC NOTE GF RV See Note)
SB3
BRET ALLAIN
TAX/TAXATION
- Changes the month for the annual determination of the personal income tax and corporate franchise tax automatic rate reductions. (8/1/23) (EN NO IMPACT GF RV See Note)
SB8
LUNEAU
TAX/LOCAL
- Provides relative to interest applicable to local sales and use taxes paid under protest. (8/1/23) (EN SEE FISC NOTE LF RV See Note)
SB19
BRET ALLAIN
TAX/INCOME/CORPORATE
- Eliminates the inventory tax credit for corporations and reduces the corporate income tax rates. (1/1/24) (EG +$10,000,000 GF RV See Note)
SB41
MIZELL
TAX/TAXATION
- Establishes a tax credit for certain maternal wellness centers. (8/1/23) (EN -$5,000,000 GF RV See Note)
SB56
CATHEY
TAX EXEMPTIONS
- Reinstates the Second Amendment sales tax holiday. (7/1/23) (EN DECREASE GF RV See Note)
SB72
BOUIE
BONDS
- Provides relative to the issuance of revenue bonds on behalf of the Department of Public Safety and Corrections. (gov sig) (EN NO IMPACT See Note)
SB79
LUNEAU
TAX/TAXATION
- Provides relative to expenditures utilized to claim income and franchise tax credits. (gov sig) (EG SEE FISC NOTE GF RV See Note)
SB86
FIELDS
TAX EXEMPTIONS
- Constitutional amendment to provide that all 10-Year Industrial Exemption contracts entered into after 12/31/23 shall be entered into only on condition that the exemption shall not apply to taxes levied for purposes related to elementary and secondary education. (2/3-CA13s1(A)) (OR INCREASE LF RV See Note)
SB126
FIELDS
TAX EXEMPTIONS
- Constitutional amendment to provide that all 10-Year Industrial Exemption contracts renewed after 12/31/2023 shall be renewed only on condition that the exemption shall not apply to taxes levied for purposes related to elementary and secondary education. (2/3-CA13s1(A)) (OR INCREASE LF RV See Note)
SB132
REESE
CAPITAL OUTLAY
- Provides relative to exemptions to capital outlay procedure. (8/1/23) (EN SEE FISC NOTE See Note)
SB151
REESE
ECONOMIC DEVELOPMENT
- Provides relative to the Louisiana New Markets Jobs Act. (gov sig) (EN -$22,500,000 GF RV See Note)
SB166
JACKSON-ANDREWS
CAPITAL OUTLAY
- Authorizes the division of administration to waive local match requirements for certain non-state entity projects. (gov sig) (EN DECREASE LF EX See Note)
SB193
CATHEY
TAX/AD VALOREM
- Provides relative to the allocation of ad valorem tax assessed values of certain property. (gov sig) (OR SEE FISC NOTE LF RV)
CONSIDERATION OF ANY OTHER MATTERS THAT MAY COME BEFORE THE COMMITTEE
ADJOURNMENT
Persons who do not feel comfortable giving testimony in person may submit a prepared statement in accordance with Senate Rule 13.79, in lieu of appearing before the committee. Statements may be emailed to simpsons@legis.la.gov and must be received by the committee secretary at least three hours prior to the meeting to be included in the record for this committee meeting. Audio/visual presentations, such as PowerPoint, must be received by the committee secretary at simpsons@legis.la.gov at least twenty-four hours PRIOR to the scheduled start of the committee meeting for review and prior approval. Thumb drives will NOT be accepted. Persons desiring to participate in the meeting should utilize appropriate protective health measures and observe the recommended and appropriate social distancing.