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Louisiana 2017 Special Session Possible

The Revenue Estimating Conference met Friday, January 13, 2017 to determine the budget deficit for fiscal year 2017. Based on tax collections, which are below expectations, Louisiana’s economists proposed either a $340M or $502M deficit. The Revenue Estimating Conference ultimately concluded the deficit for fiscal year 2017 is $340M, of which $313M in cuts will be needed.

Governor John Bel Edwards previously stated that any budget deficit requiring cuts in excess of $300M would require a special session by the legislature to make those cuts and/or raise revenue. Coupled with the fiscal regular session that begins in March and will likely involve large-scale tax reform discussions, 2017 is shaping up to be another interesting (and busy) year for Louisiana taxpayers.

© 2020 Jones Walker LLPNational Law Review, Volume VII, Number 13


About this Author

Jones Walker's Estate Planning & Administration practice provides a variety of estate planning and personal planning services for individuals and families, including wills, lifetime trusts, and marital property agreements. Our attorneys administer decedents' estates, both domiciliary and ancillary, and prepare estate and gift tax returns.

Our attorneys, several of whom are members of the American College of Trust and Estate Counsel, are experienced in structuring estate plans for estates of all sizes, including estates of business owners, as...