WHILE CUTTING FUNDING FOR K-12 and HIGHER EDUCATION along with the plethora of other cuts statewide. . . . www.recallbobbyjindal.com
Jindal signs tax break law for Hornets
Advocate staff report
May 30, 2012
Gov. Bobby Jindal has signed into law a 10-year, $37 million tax break for the New Orleans Hornets, part of the state’s deal to keep the NBA team in Louisiana, The Associated Press reported Wednesday.
Jindal announced the signing Tuesday, in a list of bills that he agreed to enact into law.
The bill by Jefferson Parish Rep. Cameron Henry, a Republican, extends an existing tax break that saves the Hornets $3.7 million a year through Louisiana’s Quality Jobs Program. The rebate will be extended through the 2024 NBA season.
Supporters said the Hornets have a strong economic impact on New Orleans and the state. Critics argued it was inappropriate to give a multimillion-dollar tax break while also levying continued budget cuts on colleges and universities.