2008-0444
INTRODUCED BY: DENNIS NUSS, COUNCILMAN, DISTRICT VII
LARRY COCHRAN, COUNCILMAN, DISTRICT V
CAROLYN K. SCHEXNAYDRE, COUNCILWOMAN-AT-LARGE, DIVISION A
PAUL J. HOGAN, PE, COUNCILMAN, DISTRICT IV
SHELLEY M. TASTET, COUNCILMAN, DISTRICT II
TERRY AUTHEMENT, COUNCILMAN-AT-LARGE, DIVISION B
BILLY RAYMOND, SR., COUNCILMAN, DISTRICT I
WENDY BENEDETTO, COUNCILWOMAN, DISTRICT III
RESOLUTION NO.
Title
A resolution in support of Proposed Constitutional Amendment No. 4 (Act No. 932 - House Bill No. 420, Regular Session, 2008).
Body
WHEREAS, currently, each Parish Governing Authority receives one-fifth of the severance tax on all natural resources other than sulphur, lignite, or timber severed or produced in the Parish subject to a cap of $850,000.00 and the State receives the other four-fifths plus the balance above the local CAP; and,
WHEREAS, some Parishes currently receive the maximum amount of $850,000.00, based on severance information available from the fiscal year ending June 30, 2007; and,
WHEREAS, House Bill 420 by Representative Gallot (Act 932) in the 2008 Regular Session increases the current cap on the local one-fifth, but does not represent an increase in the overall severance tax; and,
WHEREAS, beginning July 1, 2009 the cap would be raised to $1,850,000.00, and increases again on July 1, 2010 to $2,850,000.00 with a CPI index increase per year with the State to receive their four-fifths portion and the local CAP balance which equates to the State receiving approximately 92% of total funds; and,
WHEREAS, proposed Constitutional Amendment No. 4 requires at least 50% of the increase in revenue received above the current CAP be used in the same manner and for the same purpose for projects in the Parish Transportation Fund; and,
WHEREAS, proposed Constitutional Amendment No. 4 requires that 50% of severance taxes on State owned lands in the Atchafalaya Basin, each fiscal year, be deposited into the Atchafalaya Ba...
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