From The Hayride:
The Monroe News-Star has the story this morning of the doings at the Senate Finance Committee, where in marking up the state’s budget bill yesterday Chairman Mike Michot addressed the topic of the $82 million in economic development funds the House had scrubbed. And specifically, the $67 million of that $82 million which is supposed to fund the state’s end of the V-Vehicle/Next Autoworks project.
If Gov. Jindal and his staff were expecting Michot to put that $67 million back into the budget, they were probably disappointed. He doesn’t sound like he’s playing. Michot said that Next Autoworks will have to secure a federal commitment for some $320 million in Department of Energy loans as startup capital before the end of the legislative session, or else they can kiss the state dollars goodbye.