Gulf State Panel Reviews State Budget & Taxes. A Peek at 4 Recommendations.
The State: Louisiana
The Special Commission looking at state budget, revenue and taxes: TASK FORCE ON STRUCTURAL CHANGES IN BUDGET AND TAX POLICY
4 Key recommendations:
- Staggered sunsets on all statutory dedications to see if they can be adjusted, eliminated or combined with others.
- Continue payments to state pension systems on the initial Unfunded Accrued Liability under the current timeline to avoid increasing debt, while looking for ways to accelerate payments toward an earlier debt retirement.
- Examine expected rates of return on pension investments to make proper adjustments to ensure that the retirement systems are not creating another new and costly unfunded accrued liability in the future.
- Continue review of various tax credits, rebates, deductions, and exemptions to state taxes to determine whether they can be eliminated, curtailed or more closely regulated.
Louisiana Task Force Report on Budget & Taxes
The Acadiana Advocate | Task force reveals budget, tax recommendations for Legislature