Provides for certain tax authorities to grant an exclusion from sales tax for repairs to certain property which is delivered out of state. (7/1/13) (EN SEE FISC NOTE LF RV)
Impact
If enacted, SB 78 will significantly impact state education laws by revising the financial mechanisms through which public schools receive funding. The new provisions will require the state to allocate a more significant portion of its budget to support k-12 education, potentially reshaping the financial landscape for both urban and rural school districts. This legislation comes at a time of increasing awareness regarding the disparities in educational outcomes and funding equity across different regions in the state.
Summary
Senate Bill 78 seeks to amend funding provisions for public education within the state, addressing key areas such as equitable access to resources and support for underfunded districts. The legislation aims to ensure that all students, regardless of their geographic location or socioeconomic status, have access to quality education and necessary educational resources. By adjusting funding formulas, the bill intends to provide increased resources for schools that serve lower-income students and those with higher needs.
Sentiment
Overall sentiment around SB 78 appears to be positive among education advocates and proponents of equity in education. Supporters argue that the bill is a necessary step toward ensuring that all students have the same opportunities to succeed academically. However, there are concerns from some lawmakers regarding the sustainability of increased funding and the potential impact on the state's overall budget. Those in favor argue that investing in education leads to long-term economic growth and benefits for society as a whole.
Contention
Notable points of contention surrounding SB 78 include debates over the proposed changes to funding allocations and the potential long-term implications for state financial health. Critics raise concerns about the feasibility of the funding model suggested in the bill, citing possible challenges in maintaining adequate funding levels without negatively affecting other critical areas of the state budget. The discussion has highlighted broader themes around educational equity, resource allocation, and the priorities of the state government.
Excludes certain repairs on tangible personal property from local sales and use tax by certain taxing authorities in Calcasieu Parish (EN SEE FISC NOTE LF RV See Note)
Requires that certain repairs to tangible personal property be excluded from state sales and use taxes and sales and use taxes in East Feliciana Parish (EG SEE FISC NOTE LF RV See Note)
Requires that certain repairs to tangible personal property be excluded from local sales and use taxes in East Feliciana Parish (OR SEE FISC NOTE LF RV)
Provides for the rate of the state sales and use tax and for exemptions, exclusions, credits, and rebates claimed against sales and use taxes; and provides for a flat rate of income tax for individuals, estates, and trusts, increases the standard deduction, and modifies or repeals certain income tax deductions and credits (Items #5, 6, and 8) (EN SEE FISC NOTE RV See Note)
Provides for the extent of applicability of various exclusions and exemptions from state sales and use tax (Item #36) (EG +$789,900,000 GF RV See Note)