AP Wire

Bill to raise $100M-plus advances in House

by The Associated Press

The House tax committee narrowly agreed to advance a bill to temporarily shrink a tax break for those who itemize on their tax returns, to raise more than $100 million for next year's budget.

To get the bill out of the Ways and Means Committee, lawmakers agreed to make the tax break reduction a short-term loan to the state. Louisiana would be on the hook for paying back as much as $257 million to taxpayers in two years.

The committee voted 10-9 Wednesday for the proposal, sending it to the full House for debate.

The two-year decrease to the tax break wouldn't happen if other tax bills bring in more money than expected.

Getting the bill out of committee was a victory for Gov. John Bel Edwards. A prior version without the repayment provision stalled by one vote.