tax break

Hornets-Tax Break
9:15 am
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.

Tax Break
10:04 am
Tue May 1, 2012

House Backs $3.7M Annual Tax Break for the Hornets

BATON ROUGE, La. (AP) — The Louisiana House has reversed course and agreed to extend an existing tax break given to the New Orleans Hornets that saves the team $3.7 million a year.

The extension proposed by Rep. Cameron Henry, R-Metairie, was backed in a 62-37 vote Monday. The measure only got 49 votes in support last week.

The NBA team gets a tax break through the state Quality Jobs Program. Henry proposes continuing that through the 2024 season.