Agenda - Revenue and Fiscal Affairs

Senate Committee on Revenue and Fiscal Affairs
May 9, 2011 3:00 pm 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:
	May 2, 2011
LEGISLATION TO BE CONSIDERED
		SB13	MARIONNEAUX	TAX/INCOME/PERSONAL - Removes the 50% cap on the deduction from taxable income of tuition and fees paid by a taxpayer for a dependent child to a nonpublic elementary or secondary school or to a public elementary or secondary lab school which is operated by a public college or university, making the deduction equal to the full amount paid up to $5,000 per child. (gov sig) (EN -$5,300,000 GF RV See Note)
		SB21	RISER	TAX/SALES - Grants a state tax exemption for water, mineral water, carbonated water, and flavored water sold in bottles, jugs, or containers for home consumption. (10/1/11) (EN -$8,300,000 GF RV See Note)
		SB40	MORRELL	TAX/TAXATION - Authorizes DEQ to once again grant transferable credits for the investigation or remediation of hazardous waste "brownfields" sites on and after July 1, 2011 through December 31, 2013, clarifies that the credit may be granted to any public or private "entity" whether taxable or non-taxable, and specifically authorizes credits for the remediation of public parks, playgrounds and other recreational areas. (7/1/11) (EN DECREASE GF RV See Note)
		SB54	J.AMEDEE	TAX/AD VALOREM - Requires certain public notice and hearings before agreements are entered into which have the effect of making property exempt from ad valorem taxes in certain parishes. (7/1/11) (RE SEE FISC NOTE LF RV See Note)
		SB63	MURRAY	TAX/TAXATION - Extends income and corporation franchise tax credit for the rehabilitation of historic structures. (EN DECREASE GF RV See Note)
		SB99	MORRELL	TAX/TAXATION - Authorizes the issuance of $30 million more New Market Tax Credits, provides for when the credits may be issued and taken on a return, and extends the period tax credits are allowed from ending on December 31, 2013, to an indefinite period if the qualified equity investment is issued prior to December 31, 2014. (gov sig) (EN -$30,000,000 GF RV See Note)
		SB112	ADLEY	TAX/SALES - Exempts parish councils on aging from paying state sales and use tax. (10/1/11) (EN -$23,000 GF RV See Note)
		SB123	MARTINY	TAX/TAXATION - Changes the Digital Interactive Media Producer Tax Credit to a refundable tax credit and provides other modifications to the program. (gov sig) (EN -$800,000 GF RV See Note)
		SB135	CLAITOR	TAX/TAXATION - Changes the research and development tax credit program to a "rebate"; decreases the program from December 31, 2013 to June 30, 2013; reduces the amount of the rebate by requiring all employees to be counted in the size of the business, rather than only resident employees; and changes it calculation. (gov sig) (EN INCREASE GF RV See Note)
		SB187	LONG	TAX/TAXATION - Extends Cane River Heritage tax credit to January 1, 2014. (8/15/11) (EN -$2,700 GF RV See Note)
CONSIDERATION OF ANY OTHER MATTERS THAT MAY COME BEFORE THE COMMITTEE
ADJOURNMENT