DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 2 Engrossed 2016 First Extraordinary Session Broadwater
Abstract: Repeals the Student Assessment for a Valuable Education (SAVE) credit program
Present law establishes the Student Assessment for a Valuable Education (SAVE) credit program
and provides for implementation of the program through the Board of Regents (the board) and Dept.
of Revenue (DOR).
Present law requires the board to implement the 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 shall not exceed the average household tax liability
in La. for the total of such taxes as determined and published by the DOR no later than June 30th of
each fiscal year. In any fiscal year, the aggregate amount of SAVE credits shall exceed $350 million.
Proposed law repeals present law.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Repeals R.S. 47:6039)