Louisiana legislative auditor says tax credits cost state billio - KPLC 7 News, Lake Charles, Louisiana

Louisiana legislative auditor says tax credits cost state billions

Movie productions like this one earned Louisiana the nickname, "Hollywood South." Movie productions like this one earned Louisiana the nickname, "Hollywood South."
BATON ROUGE, LA (WAFB) -

Louisiana's tax credit program made it Hollywood South, but the high cost to state coffers is putting it and other tax breaks in the public eye.

From the film production tax credits to credits for sugarcane transport, the state's 88 tax credit programs cost $5.4 billion in uncollected revenue over the last five years, according to a new report by the state legislative auditor.

"This is serious money and I think it's important for all of us in our legislature to understand that we do have these credits and we do have these rebates out there," Daryl Purpura, Louisiana legislative auditor.

Other economic leaders say the auditor's report only tells half the story. They argue it doesn't show how much money is pushed into local economies.

The legislative auditor said it's tough to track the program's return on investment.

Copyright 2013 WAFB. All rights reserved.

  • More Local NewsNewsMore>>

  • WATCH LIVE ON 7NEWS SUNRISE: Boating safety

    WATCH LIVE ON 7NEWS SUNRISE: Boating safety

    Wednesday, August 23 2017 6:27 AM EDT2017-08-23 10:27:09 GMT
    (Source: pablo)(Source: pablo)

    Good Morning. John Bridges and Britney Glaser here with a look at what's coming up on 7News Sunrise.

    More >>

    Good Morning. John Bridges and Britney Glaser here with a look at what's coming up on 7News Sunrise.

    More >>
  • New website adds convenience for those with disabilities

    New website adds convenience for those with disabilities

    Wednesday, August 23 2017 6:25 AM EDT2017-08-23 10:25:01 GMT
    (Source: website)(Source: website)

    A new website aimed at providing resources to parents and caretakers for those with disabilities is launching this week.

    More >>

    A new website aimed at providing resources to parents and caretakers for those with disabilities is launching this week.

    More >>
  • SURVEILLANCE PHOTOS: CPSO searching for ID theft suspect

    SURVEILLANCE PHOTOS: CPSO searching for ID theft suspect

    Wednesday, August 23 2017 5:54 AM EDT2017-08-23 09:54:02 GMT
    Suspect spotted at a local bank in Lake Charles.Suspect spotted at a local bank in Lake Charles.

    The Calcasieu Parish Sheriff’s Office is searching for a suspect wanted in connection to an identity theft incident in Lake Charles. 

    More >>

    The Calcasieu Parish Sheriff’s Office is searching for a suspect wanted in connection to an identity theft incident in Lake Charles. 

    More >>
Powered by Frankly