2023 Move in weekend

[no1cajunfan]

Somebody is definitely making plenty of money off these studies



I'm hoping we eventually see the entertainment district become a reality

They're going to conduct the study to study whether the first study is better than the second study. After the two studies were done someone didn't like the findings so they're going to commission a third study to see if that study is better than the first two studies. Once all studies are re reviewed, they will decide to wait for more studies. Yall can thank the Blanco administration for this halt. This is all you will see from her administration in the next 3 years. Great job Lafayette!!

[RedTails]

Yall can thank the Blanco administration for this halt.

From the article: "Lafayette’s outgoing legislative delegation secured $75 million in 2023. That dropped to less than $10 million in the current budget."

I think we can thank the LA legislature and our current governor instead.

[CajunT]

Supposedly the current city administration is conducting a study to determine if it would be better to just renovate the Heymann instead of building a new facility elsewhere.

https://thecurrentla.com/2024/plan-f...nt-hits-reset/

Wasn't the whole idea of moving the Heymann driven by Lafayette General's desire to buy that property?

She has a different agenda of course and made promises behind the scenes to some of her friends. See the now mentioned proposal of the former failed Joey Duriel plan to revitalize Johnston St for her next agenda item.

[Turbine]

https://thecurrentla.com/2024/plan-f...nt-hits-reset/

Pretending that a million in revenue is a key factor is laughable in light of the money the Cajundime is giving away.

If the Hyman center generates $1 million in sales taxes for non overnight bookings it is a crying shame that the Cajundime excludes conventions that don't allow concessions.

[no1cajunfan]

If that is accurate.
My guess is our city government waited too long to act thus the money dried up. Many people hated Guillory cause of the quick speed he did things. It appears our current government acted too slowly.

[CajunT]

From the article: "Lafayette’s outgoing legislative delegation secured $75 million in 2023. That dropped to less than $10 million in the current budget."

I think we can thank the LA legislature and our current governor instead.

Actually, you thank the previous Govenor and legislature (both parties) for these budget cuts. It was known to them that the Medicaid Expansion they signed off on would eventually have to find new revenue to pay for it when the Federal Government notified the state that funding would be reduced to this state begging in 2024. Edwards didn't care because he would no longer be Governor and both parties were scared to death to tell the citizens of Louisiana that this was coming to a head. Both parties kicked the can down the road for the next Governor and Legislature to deal with these massive budget shortfalls.

[Cajunrunner]

Actually, you thank the previous Govenor and legislature (both parties) for these budget cuts. It was known to them that the Medicaid Expansion they signed off on would eventually have to find new revenue to pay for it when the Federal Government notified the state that funding would be reduced to this state begging in 2024. Edwards didn't care because he would no longer be Governor and both parties were scared to death to tell the citizens of Louisiana that this was coming to a head. Both parties kicked the can down the road for the next Governor and Legislature to deal with these massive budget shortfalls.

Well the consultants made some good money off the various studies they conducted, so that's a big positive. Stop being so negative about everything and look for the good silver linings.

[RedTails]

Actually, you thank the previous Govenor and legislature (both parties) for these budget cuts. It was known to them that the Medicaid Expansion they signed off on would eventually have to find new revenue to pay for it when the Federal Government notified the state that funding would be reduced to this state begging in 2024. Edwards didn't care because he would no longer be Governor and both parties were scared to death to tell the citizens of Louisiana that this was coming to a head. Both parties kicked the can down the road for the next Governor and Legislature to deal with these massive budget shortfalls.

Jeff (and every other gubernatorial candidate running) said Medicaid Expansion is a good thing (the state is only on the hook for 10%). Maybe capital outlay budget wouldn't have taken such a huge hit if didn't let a temporary sales tax expire (0.45% of the state sales tax expiring, losing out on $550 million in tax revenue), also easing up on O&G severance tax.

We can't cut taxes and then complain that we can't get nice things because our previous governor was a democrat.

P.S. I hope the guys trying to write our new state constitution in secret aren't successful, because we can all kiss our homestead exemption goodbye.

[Cajunrunner]

easing up on O&G severance tax.

Louisiana: 12.5% of value (unless something changed this past session)
Texas: 4.6% on oil; 7.5% on gas
Mississippi: 6%
Arkansas: 4 to 5% depending on production numbers

Now I'm sure there's some difference between the four states on specific tax breaks that might reduce that number, but those are the starting points comparison between the them.

[RedTails]

Louisiana: 12.5% of value (unless something changed this past session)
Texas: 4.6% on oil; 7.5% on gas
Mississippi: 6%
Arkansas: 4 to 5% depending on production numbers

Now I'm sure there's some difference between the four states on specific tax breaks that might reduce that number, but those are the starting points comparison between the them.

Bill to slash oil tax aims to stimulate industry. But it could cost Louisiana millions

Yea, they passed a bill dropping it to 8.5%.

According to the Legislative Fiscal Office, reducing the severance tax will cost the state nearly $107 million over the next five years. Once the rate is down to 8.5%, it could leave the state short about $80 million annually, predicted Jan Moller, executive director of Invest in Louisiana, formerly known as the Louisiana Budget Project.

Which is fine and dandy, but we can't simply compare the severance tax alone to other states. Because it's not apples to apples (see below). You had a keen understanding it wasn't the full picture though.

Louisiana does not have a reserve tax—a property tax based on the value of unextracted oil on a property. Texas does have that tax, and states across the country have different systems for taxing oil.

So, I go back to my original post on this. If we want to be a "business friendly" state and cut tax revenue like this, we can't be surprised when we can't get nice things, and we definitely shouldn't assign the blame to our new Lafayette MP. Louisiana is a mess, and I don't know how we fix it.