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Appropriations committee advances bill to create future dividend fund for residents
Summary
Lawmakers reported House Bill 628 favorably after the sponsor outlined a framework modeled on Alaska’s dividend program that would set aside 25% of excess mineral revenues into a Louisiana Dividend Program once certain constitutional and tax milestones are met.
The House Appropriations Committee reported House Bill 628 favorable after Representative Cruz described a long-term framework to share a portion of future excess mineral revenues with Louisiana residents.
The bill establishes a Louisiana Dividend Program within the Department of Treasury. Under the measure, once personal income tax is eliminated and annual mineral revenues exceed $650 million, 25% of revenues above that threshold would be deposited into the dividend…
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