Tagged: tax credits

Gov. Bobby Jindal's administration is moving ahead with new regulations that spell out limits for the state's alternative fuel vehicle tax credit.

The final rule governing the tax credit program is being published Thursday and will take effect this week.

The alternative fuel vehicle tax break's cost has grown much larger than estimated and had become a headache for the Republican governor because of differing interpretations about eligibility.

Louisiana paid as much as $7 million for a two-month expansion of a tax credit designed to encourage the purchase of alternative fuel vehicles.

The Department of Revenue issued a little-noticed rule in April governing the state's alternative fuel tax credit, which enlarged the list of qualifying vehicles.

Jindal scrapped the rule in June amid complaints it could wreck the state's budget, but it appears hundreds of people took advantage of the expanded list while it was on the books.

A new report is suggesting state lawmakers should lessen Louisiana's generous film tax credits and cap the amount of money it can cost the state each year in lost revenue.

Louisiana spent $231 million last year to attract movie productions, through a tax break program that continues to grow larger annually and that has cost the state more than a billion dollars over a decade.

The left-leaning Louisiana Budget Project says the state hasn't gotten much in return besides the prestige of hosting big-name Hollywood actors.