More than 70 percent of Louisiana residents oppose diverting funds from coastal erosion lawsuits filed against energy companies for purposes unrelated to marshland restoration, according to a new survey.
(The Center Square) – The Louisiana House’s tax-writing committee has approved a Senate bill that would remove a major tax break from the state constitution and lower the top income
House committee advances Senate-approved tax swap
The Louisiana House’s tax-writing committee has approved a Senate bill that would remove a major tax break from the state constitution and lower the top income tax rate.
Senate Bill 159 is a key piece of a complicated effort to simplify Louisiana’s complex tax system, which critics say complicates state budgeting and drives away people and businesses, while trying to collect about the same amount of money.
Louisiana currently lets taxpayers deduct the full amount of their federal income taxes when tallying their state taxes. SB 159 would strip that provision from the state constitution, though lawmakers still would have the option to keep it in statute.
Senate Bill 122 by Sen. Bret Allain, a Franklin Republican, would dedicate 75% of any money derived from civil damages related to coastal permits to the Louisiana Coastal Protection and Restoration Authority. The other 25% would go to local governments where the activity occurred, with the requirement the money be spent in ways that are consistent with CPRA’s coastal master plan.
Some senators said they feared the bill would interfere with a $100 million proposed settlement between several parishes and an oil-and-gas company over alleged environmental damage. Sen. Rick Ward, R-Port Allen, attempted to add language to make the bill apply to only future settlements but was voted down.