House Committee Rejects Proposed Education Budget
Last week, the Louisiana House Education Committee
refused to adopt
a state school funding formula, which included over $100 million for teacher and school staff pay raises and $39 million in additional per pupil funding for K-12 public schools.
Sports Betting and Early Childhood Education
Although legislation to legalize sports betting has just started its path through the Legislature, there has been a lot of discussion around dedicating those tax revenues to early care and education to provide a stable source of funding in the future. Last week, the House Ways and Means Committee approved a system to collect taxes on sports betting and agreed that these revenues
should primarily benefit early childhood education
In addition, although fantasy sports is still in its infancy, the Committee approved legislation to allocate any proceeds from fantasy sports to help fund the education and care for children from birth to three years old. Very little state revenue is expected to be collected from this source, however.
It should be noted that although funds from combined sports betting and fantasy sports could provide a secure source of funding down the line, which is important, it would only fund a small portion of what is needed and would not provide any of the needed funds for the coming fiscal year.