Senate committee approve version of new budget for La.

BATON ROUGE--A Senate committee on Wednesday passed a version of the state’s budget for the upcoming fiscal year and several other bills that could impact the state’s finances, including freezing pay raises for state employees.

The bill, approved by the Senate Finance Committee, would use $90 million from the state’s rainy-day fund to fill budget shortfalls caused by nearly $1 billion in lost revenues estimated by state economists.

The Legislature is expected to use more than $1 billion in federal coronavirus aid to fill budget gaps. About half of those funds were used in the current fiscal year, which ends June 30, and the rest will be used in the fiscal year starting July 1.

 

 

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