Urges and Requests the chairmen of the House Committee on Ways and Means and the Senate Committee on Revenue and Fiscal Affairs to establish a joint subcommittee to study state tax incentives and rebates (EG INCREASE GF EX See Note)
Impact
If implemented, HCR72 would lead to a re-evaluation of Louisiana's tax structure, potentially affecting numerous tax preference expenditures that have been deemed low-performing. This measure is intended to enhance equity in revenue generation and improve budgetary priorities within the state. The subcommittee is tasked with employing effective economic models to measure the impact of these tax incentives, leading to more informed legislative decisions regarding state taxation and fiscal management.
Summary
House Concurrent Resolution No. 72 (HCR72) calls for the establishment of a joint subcommittee by the House Committee on Ways and Means and the Senate Committee on Revenue and Fiscal Affairs. The purpose of this subcommittee is to conduct a comprehensive review of Louisiana's state tax incentives and rebates, particularly focusing on tax preference expenditures such as deductions, exemptions, and credits. It aims to identify underperforming or outdated tax preferences and recommend potential reductions or eliminations to streamline the state’s tax policies before the 2023 legislative session.
Sentiment
The sentiment surrounding HCR72 appears to be generally supportive among policymakers who recognize the need for a modernized tax structure that reflects current economic realities. By advocating for the review of tax incentives, it positions the legislature towards a more equitable distribution of tax preferences. However, there are concerns from various stakeholders about the implications of reducing tax preferences, particularly if such actions could lead to job losses or negatively affect specific sectors of the economy.
Contention
A notable point of contention regarding HCR72 is the fear among certain groups that cutting tax preferences may adversely affect local businesses that rely on these incentives for operational sustainability. The resolution emphasizes a broad evaluation and the potential for radical changes to existing tax laws, which could lead to fierce debates within the legislature concerning fiscal responsibility versus economic support for businesses. Opponents of such reductions might argue that stripping away these incentives could hinder economic growth and undermine competitive advantages that some businesses hold.
Urges and requests the House Committee on Commerce and the Senate Committee on Commerce, Consumer Protection, and International Affairs to study the effects that the railroads have on broadband deployment
Requests a joint subcommittee of the House Committee on Insurance and Senate Committee on Insurance to undertake a study to make recommendations for proposed legislation relative to balance or surprise billing in Louisiana
Requests the House Committee on Municipal, Parochial and Cultural Affairs, or a subcommittee thereof, to study the effectiveness of neighborhood crime prevention and security districts in reducing crime
Establishes a joint subcommittee of the House Committee on Appropriations and the Committee on Health and Welfare to study and compile information on projected future demand and state expenditures for state-provided long-term supports and services for the elderly and persons with adult-onset disabilities
Requests the Senate Committee on Finance, or a subcommittee thereof, to study and make recommendations on court costs in suits involving the state and political subdivisions in the Nineteenth Judicial District Court. (EN SEE FISC NOTE GF EX)
<p class=ldtitle>Establishing a joint committee of the House Committee on Privileges and Elections and the Senate Committee on Privileges and Elections to study the costs and benefits of 45 days of early voting. Report.</p>
To Require Disclosure And Reporting Of Noncandidate Expenditures Pertaining To Appellate Judicial Elections; And To Adopt New Laws Concerning Appellate Judicial Campaigns.