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**)
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LEGISLATION TO BE CONSIDERED |
| | | SB39 | GATTI | TAX EXEMPTIONS - Constitutional amendment increasing level of assessed valuation at which homestead exemption applies. (2/3 - CA13s1(A)) (OR SEE FISC NOTE LF RV) |
| | | SB80 | MORRISH | POSTSECONDARY 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) |
| | | SB99 | SMITH | TAX/TAXATION - Provides relative to sales by minors engaging in business. (8/1/16) (EN DECREASE LF RV See Note) |
| | | SB146 | GATTI | CAPITAL 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) |
| | | SB240 | LONG | TAX/LOCAL - Provides relative to taxing authority of certain waterway commissions. (8/1/16) (OR NO IMPACT LF RV See Note) |
| | | SB414 | LUNEAU | BONDS - 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) |
| | | HB236 | THIBAUT | MOTOR 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) |
| | | HB588 | ROBERT JOHNSON | REVENUE/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 |