News from the South - Louisiana News Feed
Louisiana’s motion picture tax credits grew to $500M since 2018 | Louisiana
SUMMARY: Louisiana faces a projected $1.5 billion budget shortfall, leading to scrutiny of its costly Motion Picture Production Program, which has issued over $500 million in tax credits since 2018. The program offers up to a 40% tax credit on in-state expenditures and an extra 5% for qualifying productions with visual effects. Although the program’s return on investment is 60.04%, critics argue that its benefits don’t justify the expenses. An analysis shows that, despite generating $46 million and $51 million in additional tax revenue in FY 2021 and FY 2022, the program results in a significant net loss for the state.
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News from the South - Louisiana News Feed
Midday Ark-La-Miss News Update: Oct. 14, 2024
SUMMARY: The Union Parish Sheriff’s Office is searching for 81-year-old James Lofton, last seen on February 2, 2022, in Farmerville, Louisiana. His vehicle was found on February 25, 2022, but he was without his cell phone during his disappearance. If you have information, call 318-368-3124. In sports, the Monroe Moccasins have dismissed head coach Todd Milwrath after a 7-2 season opener loss, hiring Justin Levac as his replacement. Additionally, a military veteran named Blair Whip was reunited with her lost service dog, Lakota, due to help from the Port Barry Police after a year of searching. Lakota is receiving free medical treatment for health issues. Weather updates indicate sunny conditions with cooling temperatures approaching the mid-50s tonight.
News from the South - Louisiana News Feed
Monday 12 pm Tropical Update: One spot in Atlantic may develop near Caribbean
SUMMARY: In mid-October, cold fronts help maintain calm in the Gulf of Mexico, allowing forecasters to focus on one area: Invest 94L, which is moving westward toward Puerto Rico. Currently, it faces unfavorable conditions for development, but as it approaches and encounters more moisture and warmer ocean temperatures, its potential could increase. However, the prevailing dry air over the Gulf is likely to inhibit any significant system formation. The next tropical storm name on the list is Nadine.
It is denoted as Invest 94. It has a “medium chance” of development according to the National Hurricane Center.
News from the South - Louisiana News Feed
Louisiana taking ‘holistic’ approach to high auto insurance rates | Louisiana
SUMMARY: Louisiana‘s auto insurance rates are among the highest nationally, creating significant concerns for residents and lawmakers. Contributing factors include a high rate of uninsured drivers, frequent natural disasters, and a plaintiff-friendly legal environment that leads to increased claims and premiums. Commissioner Tim Temple highlighted the issue of minimal coverage affecting many policies and the need for systemic reform. While inflation in the auto industry is easing, it may not immediately lower rates or attract more insurers. Lawmakers are seeking transparency from insurance companies and exploring reforms to reduce insurer exposure and retain businesses, as some have relocated due to high costs.
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