Senate Committee on Revenue and Fiscal Affairs
April 18, 2016
1:30 pm
John J. Hainkel, Jr. Room

Adjourned
 
* Agenda Revised April 18, 2016, 9:04 am *
Revision Notes: ADDED: SB 80

 



  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 11, 2016

DISCUSSION:TAX EXPENDITURES FOR BUSINESS INCOME - EXEMPTIONS AND DEDUCTIONS
 - State Banking Corporations and Shareholders , R.S. 47:8 and R.S. 47:121(2)
 - Dividends from National Banking Corporations and State Banking Corporations, R.S.47:287.71 (B) (6)
 - Interest on State and local obligations, R.S. 47:287.71 (B)(4) & 47:293 (9)(b)
 - Subchapter S Corporation, R.S. 47:287.732
 - Percentage Depletion, R.S. 47:287.745
 - Louisiana Net Operating Loss, R.S. 47:287.86
 - Deduction for I.R.C. Section 280 (C) Wage Expense, R.S. 47:287.73 (C)(4) & 47:293(9)(a)(ix)
 - Deduction for Interest Income and Dividend Income, R.S. 47:287.738 (F)
 - S Bank Income Exclusion, R. S. 47:297.3, 47:300.6 (B)(2)(d) & 47:300.7 (C)(2)(c)
 - Deduction for Net Capital Gains, R.S. 47:293(9)(a)(xvii)

DEFERRED FROM APRIL 11, 2016 - TAX EXPENDITURES FOR RETIREMENT & DISABILITY
 - $6,000 Annual Retirement Income, R.S. 47:44.1 (A)
 - Disability Income, R.S. 47:44.1 (B)
 - Federal Retirement Benefits, R.S. 47:44.2, Davis v. Michigan Dept of Treasury, 489 US 803 (1989)
 - Social Security Benefits, R.S. 47:44.2
 - Certain Disabilities, R.S. 47:297 (A)
 - (*For additional information regarding Tax Expenditures use the following link : http://senate.la.gov/Revenue&Fiscal/Default.asp**)

LEGISLATION TO BE CONSIDERED
 SB39GATTITAX EXEMPTIONS - Constitutional amendment increasing level of assessed valuation at which homestead exemption applies. (2/3 - CA13s1(A)) (OR SEE FISC NOTE LF RV)
 SB80MORRISHPOSTSECONDARY ED - Constitutional amendment to authorize the postsecondary education management boards to establish tuition and fee amounts charged by institutions under their supervision and management. (2/3-CA13sl(A)) (EN INCREASE SG RV See Note)
 SB99G.SMITHTAX/TAXATION - Provides relative to sales by minors engaging in business. (8/1/16) (EN DECREASE LF RV See Note)
 SB146GATTICAPITAL OUTLAY - Provides for institutions of higher education to first use capital outlay funding for deferred maintenance projects. (8/1/16) (EG INCREASE GF EX See Note)
 SB240LONGTAX/LOCAL - Provides relative to taxing authority of certain waterway commissions. (8/1/16) (OR NO IMPACT LF RV See Note)
 SB414LUNEAUBONDS - Provides for the application of a premium, if any, in connection with the issuance of bonds. (gov sig) (EN SEE FISC NOTE LF RV See Note)
 HB236THIBAUTMOTOR VEHICLES - Provides grace period in order to pay certain taxes and fees related to motor vehicles for persons separating from active duty military service (EN NO IMPACT See Note)
 HB588R.JOHNSONREVENUE/TAXATION DEPT - Reduces the fee charged to the Department of Children and Family Services and district public defender's offices for each tax offset claim (EN SEE FISC NOTE SG RV See Note)

CONSIDERATION OF ANY OTHER MATTERS THAT MAY COME BEFORE THE COMMITTEE

ADJOURNMENT