Declarations

The Job Engine

“Small businesses are the job engine of this state. This increased exemption encourages the spirit of entrepreneurship and will help create new and better paying jobs for Texans.”

—Texas State Representative Brandon Creighton. Creighton, who represents part of Montgomery County, has filed HB 720, which would give more small businesses an exemption from the state business tax. Current law exempts businesses with revenue under $300,000 and gives discounts to those who make up to $900,000. Under Creighton’s bill all businesses that have less than $1 million in revenue would be completely exempt from the tax. Senator Eliot Shapleigh (El Paso) is leading this issue in the Senate.

A Major Disaster

“This is a very, very dangerous (area) at risk of earthquake. … When you talk about 7 and plus, this is going to be a major disaster.”

—Haydar Al-Shukri, the director of the Arkansas Earthquake Center at the University of Arkansas at Little Rock. Al-Shukri says a previously unknown fault in eastern Arkansas, west of Marianna, could trigger a magnitude 7 earthquake in the cotton fields of the upper South with an epicenter near a natural gas pipeline. The fault is separate from the New Madrid fault responsible for a series of quakes in 1811-12 that caused the Mississippi River to flow backward.

Let the Judge Decide

“Let’s go to the judge and let him decide this issue. My lawyers tell me I’m not allowed to do what (Theriot) wants me to do.”

—Louisiana Commissioner of Insurance Jim Donelon. Lawmakers on Louisiana’s joint House and Senate budget committee say an ongoing public records dispute between Donelon and state Legislative Auditor Steve Theriot is hampering the state’s ability to certify its year-end financial statements and asserted they may intervene. The Associated Press reported that Donelon won a small victory in state court Jan 27. Although he did not rule on the primary issue in the case, 19th Judicial District Judge Todd Hernandez ruled the insurance department can continue to receive operational funds from the state until the dispute is resolved. Donelon says his lawyers advised that he is legally prohibited from giving certain documents to Theriot: personal e-mails, e-mails protected under attorney/client privilege and private insurer information that is proprietary and protected under confidentiality agreements. The commissioner maintains he has given Theriot all of the financial documents the auditor requested.

Topics Arkansas