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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 […]
Legislative proposals to renew the four-cent-per-gallon “TIMED” gas tax 20 years beyond its scheduled expiration date would fund $2 billion in road and bridge projects that have never been adequately evaluated and justified.
The Legislature created the Transportation Infrastructure Model for Economic Development (TIME) program in 1989 to fund 16 transportation-related projects. The projects included highway, bridge, port and airport improvements expected to spur economic development.
The big issue of the current session is how to carry out the constitutional requirement that the Legislature enact a balanced budget. / Several proposed constitutional amendments for budget reforms have been introduced.
A recent special PAR report, ” Budget Reform Essential to Fiscal Sanity,” detailed recommendations on budget reforms made by PAR in December 1986. / The four state-funded public employee retirement systems and the nine statewide systems together had unfunded accrued liabilities of $5.5 billion in 1986.