(Constitutional Amendment) Dedicates the avails of the existing one percent state sales and use taxes for the support of public elementary through post-secondary education (RE +$113,000,000 SD RV See Note)
Impact
If enacted, HB 412 would establish the Stability in Education Fund, which is mandated to collect the sales tax revenues earmarked for educational purposes. This fund is designed to protect the designated tax revenues from being used to offset deficits in other state funds, thereby ensuring that the investment remains specifically directed towards education. The bill articulates a clear plan for the financial support of public education, aiming to provide more stable funding through dedicated resources.
Summary
House Bill 412 is a proposed constitutional amendment aimed at dedicating the proceeds of the existing 1% state sales and use tax for the exclusive support of public education, which includes services from elementary through post-secondary levels. This proposal allows for the inclusion of food for home consumption, residential utilities, and prescription drugs into the sales tax base, previously excluded from such taxes. The intention behind this amendment is to bolster funding for education during a time when public education remains a critical focus within the legislative agenda.
Sentiment
The discussions surrounding HB 412 have been generally supportive among those committed to improving educational funding; however, there are mixed feelings regarding the inclusion of food and other necessities in the tax base. Supporters believe that this amendment offers a pragmatic solution to the chronic financial issues faced by educational institutions. Yet, some critics express concern about the burden that new taxes on essential goods may place on low-income families, arguing that this could lead to increased costs of living.
Contention
One notable point of contention revolves around the expectation that the sales tax rate could potentially impact low-income residents who already face financial strain. The balance between generating needed funds for education and not overburdening citizens is a delicate matter. Additionally, some legislators express concern over the potential consequences of altering the tax treatment of essential goods, fearing it might set a precedent that could lead to further tax increases in other areas.
Dedicates the avails of the existing one percent state sales and use tax for the support of public elementary through post-secondary education (EG +$231,000,000 GF RV See Note)
Dedicates the avails of the existing one percent state sales and use tax to the Stability in Higher Education Fund and provides with respect to the extent of that tax base for purposes of monies available for deposit into the fund (Items #7 and 36) (EG SEE FISC NOTE GF RV See Note)
Imposes a state sales and use tax and dedicates a portion of the proceeds for support of public education, including teacher salaries, early childhood education, the La. Go Grants Program, and TOPS (Items #10, 22, and 23) (OR +$749,000,000 RV See Note)
(Constitutional Amendment) Dedicates the avails of certain state taxes on tobacco, nicotine products, alcoholic beverages, and other monies to be distributed to certain political subdivisions which levy ad valorem taxes
Increases gross income tax relief based on rent constituting property taxes for residential tenants and establishes refundable gross income tax credit in place of gross income tax deduction for residential tenants.
Increases gross income tax relief based on rent constituting property taxes for residential tenants and establishes refundable gross income tax credit in place of gross income tax deduction for residential tenants.
Increases gross income tax relief based on rent constituting property taxes for residential tenants and establishes refundable gross income tax credit in place of gross income tax deduction for residential tenants.
Increases gross income tax relief based on rent constituting property taxes for residential tenants and establishes refundable gross income tax credit in place of gross income tax deduction for residential tenants.
Increases, from 18 percent to 30 percent, amount of rental payments defined as rent constituting property taxes for purposes of deduction from gross income for property tax payments.
Increases, from 18 percent to 30 percent, amount of rental payments defined as rent constituting property taxes for purposes of deduction from gross income for property tax payments.