ECONOMIC DEVELOPMENT

Constructive reforms must be considered that will ensure our state's economic development while securing sufficient revenues for appropriate government services at both the state and local levels. 

Our environment for business investment must be competitive with surrounding states.

To ensure economic development, we must consider:

• Supporting efforts to increase the transparency of state and local government operations and enhance public online access to information;

• Supporting repeal of the local inventory tax with a gradual transition to offset the loss of this revenue stream until a local mechanism is established for the replacement of such state funding;

• Eliminating inconsistencies in the administration of the state and local tax systems by centralizing the collection of sales taxes;

• Supporting legal and regulatory reform;

• Supporting legislation that creates and/or enhances incentives to expand Louisiana angel, seed, and venture capital funds;

• Phasing out and eliminating the corporate franchise tax;

• Over the next four years, evaluating for possible termination based on their effectiveness and “Return on Investment” all tax exemptions, credits, deductions, and other tax incentives.