Lunch Links: Louisiana Issues Biggest Film Check Yet; Florida Considers Tax Changes; New Mexico Special Session Called
September 30, 2016
Today is September 30, the date in 2008 when the national debt passed the $10 trillion mark. Today it stands at $19.5 trillion.
Here are some interesting links I came across:
California LAO Reviews Film Tax Credit Program: While careful to note that the state can justify the program as a defensive measure against other states’ programs, the analysts found its economic performance to be wanting. (Tax Foundation)
Louisiana Issues Biggest Film Tax Credit Check Yet: The state may be struggling with a structural budget gap, but it paid $38 million to Hollywood studio Lionsgate for the production of “Deepwater Horizon,” a film about the 2010 oil rig explosion off the state’s coast. Last year, the state placed its first-ever limit on the program, capping total expenses to $180 million per year. (The Advocate)
MTC Not a Fan of Goodlatte Bill: The Multistate Tax Commission, an entity of state tax administrators for about a third of the states, released a report criticizing the Goodlatte online sales tax proposal. (MTC)
Mississippi Meeting on Monday: Mississippi’s special committee looking at the state’s tax structure will meet on Monday. (Northeast Mississippi Daily Journal)
Time for Florida Tax Reform? The Sun-Sentinel editorializes for a comprehensive look at the state’s tax system, including modernizing the sales tax to apply to more services. Florida infamously attempted this in the 1980s, and the editorial notes legislators have been “terrified” of trying again. (Sun-Sentinel)
Florida Governor Asks for Incentive Money: Related news: Florida Gov. Rick Scott (R) will ask for 85 million to fund economic incentives for particular industries and companies. Scott asked for $250 million earlier this year and didn’t get it. (SaintPetersblog)
New Mexico Special Session: Gov. Susana Martinez (R) has called legislators back to session starting today to cut spending to balance the state’s budget. The order also permits “amendments to reform and simplify existing sections of law relating to taxation and revenue.” (Governor of New Mexico)
In Memoriam: Our sympathies and prayers to the family and friends of Jim Lyons, a Senate Finance Committee staffer who passed away suddenly.