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. 3, March 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.

Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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