LAC 71:I.301
LAC 71:I.301. Determination of the State Tax Revenue Limit
Cite as La. Admin. Code tit. 71, pt. I, § 301
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.