Louisiana Governor Calls Second Special Session to Address State's Budget Shortfall

DALLAS, May 15, 2018 /PRNewswire/ -- On May 22, 2018, the Louisiana Legislature will convene for 14 calendar days in the second special session called this year by Governor John Bel Edwards to address the state's estimated $650 million budget shortfall for fiscal year 2018?2019. The special session will begin at 4:00 p.m. on May 22, 2018, and conclude no later than midnight on June 4, 2018.

In his call for the second special session, Governor Edwards gave the Legislature specific items to consider for closing the budget gap. Of the 32 objectives noted in the call, many are revenue-raising measures, including:

• Adjustments to the imposition, collection, and remittance of sales and use taxes
• Adjustments to sales and use tax exclusions, exemptions, and rates
• Modifications to Acts 25 and 26 of 2016 (1st Extraordinary)
• Adjustments to sales and use tax exemptions for business utilities
• Adjustments to the types of services subject to sales and use tax
• Adjustments to state income tax brackets
• Adjustments to various tax credits, deductions, and rebates, including:
• Modifications to Act 109 of 2015
• Modifications to Act 123 of 2015
• Modifications to Act 126 of 2015
• Adjustments to state personal income tax deductions

The Governor's call can be viewed in its entirety on the state's website.

The Ryan Advocacy practice will have a full team of professionals engaged in tracking and monitoring all tax policy issues. 

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TECHNICAL INFORMATION CONTACTS:

Jason DeCuir
Principal
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225.334.0040
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Matt Grabner
Manager
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512.960.1147
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SOURCE Ryan