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Tue May 15, 2012
$37M, 10-Year Tax Break for Hornets Approved
BATON ROUGE, La. (AP) — The New Orleans Hornets will continue receiving a tax break that saves the NBA team $37 million over 10 years.
The Senate sent the tax break bill to the governor's desk Monday with a 28-7 vote. The measure is part of the state's deal to the keep the Hornets in Louisiana.
The tax break ran into sharp criticism in the House, where lawmakers bristled at the idea of giving a multimillion dollar tax break while also weighing budget cuts to colleges and health services.
But Senate President John Alario, who is from the New Orleans area, handled the tax break bill in the Senate, a move that muted complaints.
Alario said the Hornets have a strong economic impact on the city of New Orleans and the state.