Revenue Neutrality Keeps Louisiana Shipping Tax Credit On Shelf

Summary

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The maritime trade community is boiling over the state's refusal to execute a shipping tax credit that became law more than two years ago. Exasperated industry leaders say it's only the latest example of longstanding myopia in state government when it comes to world trade and the Mississippi River.

"The state, when they look at the port and international trade, they don't consider it economic development," said Port of New Orleans board member Greg Rusovich, referring to administrations past and present.

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Revenue Neutrality Keeps Louisiana Shipping Tax Credit On Shelf

But Economic Development Secretary Stephen Moret says his hands are tied because the law requires the credit to generate as much money as it surrenders, a provision that makes it an anomaly among state incenti...

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