Agenda - Revenue and Fiscal Affairs

Senate Committee on Revenue and Fiscal Affairs
November 19, 2024 10:30 AM John J. Hainkel, Jr. Room
Adjourned
* Agenda Revised November 18, 2024, 2:08 pm * Revision Notes: changes time to 10:30 AM

BLUE = already considered. RED = currently being considered. BLACK = not yet considered.
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CALL TO ORDER
ROLL CALL
MINUTES TO BE APPROVED:
	November 17, 2024
	November 18, 2024
LEGISLATION TO BE CONSIDERED
		HB1	EMERSON	TAX/INCOME TAX - Provides for a flat rate for purposes of calculating income tax for individuals, estates, and trusts, increases the standard deduction, and modifies or repeals certain income tax deductions and credits (Item #5 and 6) (RE1 DECREASE GF RV See Note)
		HB2	EMERSON	TAX/CORP INCOME - Provides for a flat rate for purposes of calculating corporate income tax and terminates certain corporate income tax exemptions, deductions, and credits (Item #4) (EN SEE FISC NOTE RV See Note)
		HB3	EMERSON	TAX/CORP FRANCHISE - Repeals the corporation franchise tax and limits eligibility of certain credits to be claimed against corporation franchise tax (Item #3) (EN -$574,000,000 RV See Note)
		HB7	EMERSON	FUNDS/FUNDING - (Constitutional Amendment) Revises Article VII of the Constitution of La. (Items #1, 2, 7, and 14) (EN DECREASE RV See Note)
		HB8	BRASS	TAX/SALES & USE - Levies sales and use taxes on certain digital products and services (Items #8 and 13) (EN +$37,000,000 RV See Note)
		HB10	WRIGHT	TAX - Provides for the rate of the state sales and use tax and for exemptions, exclusions, credits, and rebates claimed against sales and use taxes; and provides for a flat rate of income tax for individuals, estates, and trusts, increases the standard deduction, and modifies or repeals certain income tax deductions and credits (Items #5, 6, and 8) (EN SEE FISC NOTE RV See Note)
		HB11	DESHOTEL	TAX/AD VALOREM TAX - Provides for the homestead exemption, special assessment level, and other property tax exemptions for purposes of determining ad valorem taxation of certain property (Items #1 and 10) (EN SEE FISC NOTE LF RV See Note)
		HB25	RISER	TAX/SEVERANCE TAX - Provides relative to horizontal well exemption (Item #9) (EN NO IMPACT See Note)
CONSIDERATION OF ANY OTHER MATTERS THAT MAY COME BEFORE THE COMMITTEE
	To review and approve the third party convenience fee schedule for certain online transactions pursuant to R.S. 49:316.1 for the Department of Revenue
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 sr&f@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 sr&f@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.