Gov. Jindal signs 10 year tax break for Hornets - FOX 8 WVUE New Orleans News, Weather, Sports

Gov. Jindal signs 10 year tax break for Hornets

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BATON ROUGE, La. (AP) - Gov. Bobby Jindal has signed into law a 10-year, $37 million tax break for the New Orleans Hornets, part of the state's deal to keep the NBA team in Louisiana.

Jindal announced the signing Tuesday, in a list of bills that he agreed to enact into law.

The bill by Jefferson Parish Rep. Cameron Henry, a Republican, extends an existing tax break that saves the Hornets $3.7 million a year through Louisiana's Quality Jobs Program. The rebate will be extended through the 2024 NBA season.

Supporters said the Hornets have a strong economic impact on New Orleans and the state. Critics argued it was inappropriate to give a multimillion-dollar tax break while also levying continued budget cuts on colleges.

House Bill 1072 can be found at www.legis.la.gov

 

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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