Post by Logan on Jun 21, 2016 20:25:13 GMT -6
BATON ROUGE — Cuts to Louisiana's college scholarship program TOPS, higher education, medical schools and K-12 would be smaller under a bill approved by the House here Monday that allocated almost $300 million in taxes raised during the special legislative session.
Lawmakers doled out $284 million in new money, which they agreed is a likely ceiling for new taxes in the session that must end by midnight Thursday.
Two tax bills that would affect business inventory tax credits were approved by the House early Monday raised about $70 million to reach the current total.
Most of the debate Monday centered around the amount allocated to TOPS, which ended up with a 30 percent cut in the House version of the supplemental appropriations bill. That's less than the 52 percent cut TOPS was scheduled for before the new taxes, but more than some members wanted.
Read more: www.thetowntalk.com/story/news/2016/06/20/house-panel-approves-75m-taxes/86133376/
Lawmakers doled out $284 million in new money, which they agreed is a likely ceiling for new taxes in the session that must end by midnight Thursday.
Two tax bills that would affect business inventory tax credits were approved by the House early Monday raised about $70 million to reach the current total.
Most of the debate Monday centered around the amount allocated to TOPS, which ended up with a 30 percent cut in the House version of the supplemental appropriations bill. That's less than the 52 percent cut TOPS was scheduled for before the new taxes, but more than some members wanted.
Read more: www.thetowntalk.com/story/news/2016/06/20/house-panel-approves-75m-taxes/86133376/