Louisiana Administrative Code
Title 71 - TREASURY-PUBLIC FUNDS
Part I - Public Funds Investments
Chapter 3 - State Tax Revenue Limit
Section I-301 - Determination of the State Tax Revenue Limit

Universal Citation: LA Admin Code I-301

Current through Register Vol. 50, No. 9, September 20, 2024

A. Basis of Calculation of State Tax Revenue Limit. Pursuant to 47:5002, the state tax revenue limit is the percentage formed by dividing state tax revenue for the 1978-79 fiscal year by state personal income for 1977. The State Tax Revenue Limit shall be rounded to the nearest tenth of 1 percent.

1. The state tax revenue for the 1978-79 fiscal year is $1,755,114,254.11.

2. The state personal income for 1977 is $23,187,000,000.

B. Value for State Tax Revenue Limit. The State Tax Revenue Limit is hereby established as 7.6 percent.

C. Definition of Self-Generated Funds to Permit Determination of State Tax Revenue for a Fiscal Year

1. Self-Generated Funds- for purposes of calculation of state tax revenue:
a. those monies the state receives which are classified by the department receiving the funds in "means of financing" group codes 05, 06, and 11 and in the following object codes:
i. 1435 Interest on Investments;

ii. 1440 Interest Income 8(g) Settlement;

iii. 1445 Gain from Sales of Securities;

iv. 1450 Loss from Sales of Securities;

v. 1455 Dividends on Investments;

vi. 1460 Other-Investment Income;

vii. 1730 Tuition-Vo-Techs;

viii. 1735 Ineligible Patient Fees;

ix. 1775 Sales to Non-State Agencies-Merch and Comm;

x. 1780 Sales to Non-State Agencies-AEF;

xi. 1785 Sales to Non-State Agencies-Services;

xii. 1790 Sales to Non-State Agencies-Timber;

xiii. 1795 Miscellaneous Receipts-Conversion of Property;

b. this listing shall be modified, as appropriate, to reflect changes made to self-generated object codes in the State's Chart of Accounts which is maintained by the Office of Statewide Reporting and Accounting Policy within the Division of Administration;

c. at the end of each fiscal year, no later than August 30, the state treasurer shall submit to the House Appropriations Committee and the Senate Finance Committee (State Treasury oversight committees) a listing of self-generated object codes that are to be utilized in the determination of state tax revenue for the fiscal year previously ended.

2. State Tax Revenue- as defined by R.S. 47:5003, excludes federal funds, royalties, interagency transfers, proceeds from the First Use Tax, severance taxes, and self-generated funds.

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:5010.

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