This helps the payer manage its bank account because (1) payment batches can be released by due date rather than the next business day (2) payment batches can be released before funds have posted to the account (this helps with short turnaround (funds in and payments out)) and (3) returns can be filed without payment on state websites, expanding the time frame to get numerous time-consuming filings completed. With ACH credit, payment batches can be released with any future effective date.An example of this is when the user establishes a payment for a tax bill to be debited from his or her company's bank account by entering his or her company's bank information on a state website. A direct payment processed as an ACH debit pulls funds from a designated account.An example of this is when the user initiates a payment through his or her company's bank to be deposited into a state's bank account to pay a tax bill. A direct payment processed as an ACH credit pushes funds into a designated account.The differences between these two options are: Individuals or organizations can make a direct payment via ACH as either an ACH credit or ACH debit transaction. ACH Debitsĭirect payment via ACH is the use of funds to make a payment. At the center of 23 billion electronic financial transactions totaling over $40 trillion per year, the ACH Network is one of the largest, safest, and most reliable payment systems in the world. The movement of money and information from one bank account to another in the United States is handled by the ACH Network, which is managed by the not- for- profit electronic payments association NACHA. In the case of electronic sales tax payments, there are two options that have both a time and a monetary impact: an Automated Clearing House (ACH) credit electronic payment or an ACH debit electronic payment. Stuart Bishop, a Lafayette Republican, suggested he believes the public would prefer the state spending millions on roadwork rather than “better suites in the Superdome.Benjamin Franklin once wrote, "In this world nothing can be said to be certain, except death and taxes." But how one processes the payment of those taxes is not so certain. The Edwards administration, Cortez and other lawmakers said they'd meet about the issue before next month's meeting.īut several legislative leaders have questioned whether the state should be paying for the stadium improvements at all. The district is making annual payments on the debt to the state through 2039.ĭardenne's hoping the Bond Commission will support the debt forgiveness idea in November. The debt owed by the Louisiana Stadium and Exposition District stems from 2013, when the state refinanced a prior loan used to restore the Superdome after Hurricane Katrina. But Dardenne said legislative decision-making sometime next year on whether to spend those dollars for the Superdome would take too long and could disrupt the construction plans. A portion of that money could be used for the stadium improvements. Louisiana is sitting on a hefty state surplus, along with billions of dollars in unspent federal pandemic relief aid. He said he's had difficulty getting information from the Louisiana Stadium and Exposition District about the financing of the early, completed phases of the Superdome renovations and didn't understand the urgency of the state putting up $90 million when there's other money available. “I want to work toward fixing this,” the Senate president said. But he didn't entirely shut the door on finding an approach to financing the Superdome renovations, and he said he wants the Saints to stay in Louisiana. The Bond Commission would have to approve that debt relief, and Cortez and other lawmakers on the commission are resistant to the idea.Ĭortez said he thinks the debt forgiveness would set a bad precedent. The Edwards administration is proposing that $63 million come from forgiving outstanding debts owed by the Superdome oversight board, the Louisiana Stadium and Exposition District. A contract for the next phases of the construction work “cannot be signed without some certainty on a revenue stream,” said Commissioner of Administration Jay Dardenne, the governor’s chief budget adviser.