1. A. Basis of Calculation of State Tax Revenue Limit. Pursuant to 47:5002, the state tax revenue limit is the percentage formed by dividing state tax revenue for the 1978-79 fiscal year by state personal income for 1977. The State Tax Revenue Limit shall be rounded to the nearest tenth of 1 percent.

   1. 1. The state tax revenue for the 1978-79 fiscal year is $1,755,114,254.11.
   2. 2. The state personal income for 1977 is $23,187,000,000.
2. B. Value for State Tax Revenue Limit. The State Tax Revenue Limit is hereby established as 7.6 percent.

3. C. Definition of Self-Generated Funds to Permit Determination of State Tax Revenue for a Fiscal Year

   1. 1. Self-Generated Funds―for purposes of calculation of state tax revenue:

      1. a. those monies the state receives which are classified by the department receiving the funds in "means of financing" group codes 05, 06, and 11 and in the following object codes:

         1. i. 1435 Interest on Investments;
         2. ii. 1440 Interest Income 8(g) Settlement;
         3. iii. 1445 Gain from Sales of Securities;
         4. iv. 1450 Loss from Sales of Securities;
         5. v. 1455 Dividends on Investments;
         6. vi. 1460 Other―Investment Income;
         7. vii. 1730 Tuition―Vo-Techs;
         8. viii. 1735 Ineligible Patient Fees;
         9. ix. 1775 Sales to Non-State Agencies―Merch and Comm;
         10. x. 1780 Sales to Non-State Agencies―AEF;
         11. xi. 1785 Sales to Non-State Agencies―Services;
         12. xii. 1790 Sales to Non-State Agencies―Timber;
         13. xiii. 1795 Miscellaneous Receipts―Conversion of Property;
      2. b. this listing shall be modified, as appropriate, to reflect changes made to self-generated object codes in the State's Chart of Accounts which is maintained by the Office of Statewide Reporting and Accounting Policy within the Division of Administration;
      3. c. at the end of each fiscal year, no later than August 30, the state treasurer shall submit to the House Appropriations Committee and the Senate Finance Committee (State Treasury oversight committees) a listing of self-generated object codes that are to be utilized in the determination of state tax revenue for the fiscal year previously ended.
   2. 2. State Tax Revenue―as defined by R.S. 47:5003, excludes federal funds, royalties, interagency transfers, proceeds from the First Use Tax, severance taxes, and
      self-generated funds.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:5010.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Treasury, Office of the Treasurer, LR 24:1518 (August 1998).