As the final hours of the legislative session wind down, House and Senate members reach a compromise on the budget and raising the state-imposed cap of spending to make use of surplus funds. Council for a Better Louisiana (CABL) President Barry Erwin says the agreement helps assure a budget bill will be approved before adjournment…:
Cut 10 (09) “…I’m optimistic.”
House members wanted to spend a little of the surplus, preferring to pay down state retirement debt instead. Senators want to invest in infrastructure and other projects. Erwin says the agreement gives House members at least a piece of what they wanted…:
Cut 12 (14) “…both of those sides.”
Lawmakers must adjourn by 6PM Thursday with a balanced budget.
The House and Senate unanimously passed legislation to create a tax credit for restaurants that recycle oyster shells. The bill was strongly supported by Coalition to Restore Coastal Louisiana which operates the only large-scale shell recycling program in the state. Advocacy Director Tyler Bosworth believes saying “no” to landfills and “yes” to slowing coastal erosion is a win for the state.
The state’s film tax credit will be extended to 2031. The original bill sought to extend the incentive set to expire in 2025, to 2035. But Louisiana Film and Entertainment Association President Trey Burvant says it’s still a great victory for Louisiana, its residents, and workers in the film industry.
The tax credit is capped at $150-million annually.