Photo by Brooke Thorington
The Louisiana Gator Scholarship Program bill, also known as Education Savings Accounts, goes before House Appropriations today. How much it will cost the state to fund and implement the program is a concern. Public Affairs Research Council President Steven Procopio estimates it will eventually cost $520 million annually.
“There are other estimates out there, that are between $260 and $360 million in the first three years that it will be costing, but they realize that will go up too,” said Procopio.
While the program has plenty of Republican support, Procopio said lawmakers need to consider a sales tax that’s rolling off, which is estimated to create a $400 to $500 million fiscal cliff as they consider funding the ESA program.
“The legislature it going to be, one way or another having to decide what’s a priority because they are going to have to pass a budget next year, so we’ll have a better sense of there this bill is,” said Procopio.
He said even if the bill passes in the legislature in its current form there’s a year of planning before it’s implemented.
“So that gives people time to sort of maybe modify the program if the costs look like it’s coming in at levels that aren’t acceptable,” said Procopio.
Thirteen other states have some form ESAs, which include the neighboring states of Arkansas and Mississippi.
To read PAR’s full report https://parlouisiana.org/publications/
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