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Louisiana state government requires a major overhaul of its functions and the way they are financed, the Public Affairs Research Council (PAR) said in its “White Paper on State Finance and Taxation” released today. “The next administration should immediately begin a thorough restructuring of the state’s basic service delivery systems, eliminate unneeded programs, divest local […]
Louisiana state government requires a major overhaul of its functional responsibilities and the way in which they are financed. The functional overhaul will require a major restructuring of the state’s basic service delivery systems, eliminating unneeded programs, divesting local responsibilities and improving productivity. It is imperative that the next administration makes this a top priority […]
It came as no surprise that the legislative auditor’s recently released audit of tax assessment practices found that assessors are doing a poor job of valuing property. This is only the latest in a long history of studies that have come to the same conclusion. While tax assessment equity has improved since PAR’s first look […]
The proposed state spending plan for FY 2003-04, at best, technically met the legal requirement that the governor submit a balanced budget 45 days in advance of the regular session. While the deadline was met, the balance was artificially achieved by including “contingent” revenues that are highly speculative, omitting obligations that should be met, cutting […]
Louisiana’s “Rainy Day” Fund was created to address the type of deficit situation currently facing the state. While controversial, the administration’s proposal to use $86.4 million from the fund to buoy up this year’s budget is justified at this time for a number of reasons. The “Rainy Day” Fund is not really designed to deal […]
The “Stelly Plan,” named for its primary author Rep. Vic Stelly, is the effort to address what is commonly viewed as a basic imbalance in the state’s tax structure. The proposal would swap an increase in personal income taxes for a decrease in state sales taxes.
Responding to feedback from Louisiana’s local, regional and state economic development professionals, Governor Foster has proposed the creation of a $25 million “deal closing fund.” Also called the Louisiana Opportunity Fund, it would provide financial incentives in the form of infrastructure grants (e.g., access roads) to attract new companies to Louisiana; to encourage existing companies […]