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Program Authorization: Article VI, Section 4 (D) of the 1974 La. Constitution
This constitutional dedication provides that a portion of the severance taxes collected is returned to the parishes from which the tax is collected. The tax is remitted to the governing authority of the parish in which severance or production occurs in accordance with the following allocations:
1. one-third (1/3) of the sulfur, but not to exceed $100,000
2. one-fifth (1/5) of the severance tax on all natural resources other than sulfur or timber, but not to exceed $750,000; and
3. three-fourths (3/4) of the timber severance tax.
RESOURCE ALLOCATION FOR THE PROGRAM
This agency's recommended appropriation does not include any funds for short-term debt.
This agency does not have any long-term debt for Fiscal Year 1999-2000.
The source of funding for this program is Statutory Dedicated severance tax revenue. (Per R.S. 39:32B.(8), see table below for a listing of expenditures out of each Statutory Dedicated Fund.)
ANALYSIS OF RECOMMENDATION
The total means of financing for this program is recommended at 117.6% of the existing operating budget. It represents 100.0% of the total request ($27,400,000) for this program. The recommended funding level reflects the official Fiscal Year 2000 projection approved by the Louisiana Revenue Estimating Conference at its November 18, 1998.
PROFESSIONAL SERVICES
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This program does not have funding for Professional Services for Fiscal Year 1999-2000. |
OTHER CHARGES
ACQUISITIONS AND MAJOR REPAIRS
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This program does not have funding for Acquisitions and Major Repairs for Fiscal Year 1999-2000. |