Kennedy: Tax credit cost La. millions more
BATON ROUGE- A controversial alternative fuel tax credit could cost Louisiana about $24 million dollars, according to State Treasurer John Kennedy.
Earlier estimates from the 2,500 filed claims put the cost at around $7.5 million, but Kennedy says it could wind up being much higher.
Former revenue secretary Cynthia Bridges issued an emergency order earlier this year adding dozens of vehicles to the tax credit list. It gave people up to $3,000 in tax credits for certain vehicles purchased in 2009 or later. Governor Bobby Jindal stopped the emergency order in mid-June, one day before Bridges resigned.
The Louisiana Department of Revenue would not supply a list of people who received the tax break, saying that would be a violation of agency rules.
Several lawmakers have admitted receiving the credit. Kennedy says that just causes more questions about the process.
The Louisiana Department of Revenue will host a public hearing on this issue October 25th.