The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Riley Boudreaux.
DIGEST
SB 284 Original 2015 Regular Session Donahue
Proposed law establishes the Student Assessment for a Valuable Education (SAVE) Credit Program.
Proposed law requires the Board of Regents (the board) to implement a Student Assessment for a
Valuable Education (SAVE) Credit Program for each student enrolling at a public institution of
higher education. Each student assessed shall be granted a SAVE credit against income, sales and
use, gasoline and special fuel taxes equal to the individual amount of a SAVE assessment. The
amount of each credit must not exceed the average household tax liability in Louisiana for the total
of such taxes as determined and published by the Department of Revenue no later than June 30th of
each fiscal year.
The SAVE credit is a transferable, nonrefundable credit against the tax liability set forth above of
a student, or his parent or legal guardian, which must be transferred to the board and used solely as
set forth below for each student enrolled in a public institution of higher education on and after July
1, 2015.
The Department of Revenue is to distribute student eligibility determination criteria to the board to
be used for requesting the credit for student assessments from the department. Student eligibility is
to be based on the tax liability set forth above paid to the state by all of the students and their parents
or legal guardians in the prior year as determined by the Department of Revenue.
No later than June 30th of each fiscal year, the board must certify to the department the total
headcount enrollment at public institutions of higher education in the previous fall. The department
then must determine the total amount of the credit and must transfer from the current collections of
taxes that amount to the treasurer. Upon receipt of the funds, the treasurer is authorized and directed
to transfer or deposit the funds into the Higher Education Initiatives Fund in R.S. 17:3129.6. The
secretary of the department and the treasurer must report such action to the commissioner of
administration and the Joint Legislative Committee on the Budget. In no event can the credit or
assessment exceed the amount appropriated by the legislature from the Higher Education Initiatives
Fund each fiscal year. For Fiscal Year 2015-2016, the total allowable amount available for transfer
shall be designated in the supplementary section of Schedule 19-671 Board of Regents in the Act that
originated as HB1 of the 2015 Regular Session of the Legislature of Louisiana. The legislature is
required to determine the total allowable amount available for transfer for Fiscal Year 2016-2017
and thereafter.
Proposed law requires the Board of Regents to distribute all funds appropriated from the Higher
Education Initiatives Fund derived from the SAVE Credit program pursuant to its formula for the
equitable distribution of funds to public institutions of higher education. Proposed law provides that no student or student's parent or legal guardian shall be required to pay
an assessment that is not offset by a SAVE Credit.
Proposed law provides that the tax credit registry is not applicable to the proposed law.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 47:6039)