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Legislative & Regulatory Affairs
The Louisiana Legislature begins their Fiscal Session April 8 at noon. The main headline going into session is the fate of Governor Bobby Jindal’s tax plan. His proposal includes eliminating the personal income tax, corporate income tax, and corporate franchise tax. His plan would pay for this by raising the sales tax and levying a tax on services that currently are not taxed. This has been hotly debated and criticized from various groups and its direction remains unclear. The Legislature will also grapple with budget shortages of around $1 billion dollars and the Bayou Corne incident, among other issues. There were 666 bills prefiled in the House and 235 bills prefiled in the Senate. Each legislator also has the ability to introduce five more bills once session convenes. The Legislature must adjourn by Thursday, June 6 by 6 pm. We will keep you posted as the session unfolds and issues develop.