BATON ROUGE — The House Appropriations Committee on Monday approved a proposed $47 billion state budget for the next fiscal year. The full House is expected to take up the funding plan Thursday.

Rep. Jack McFarland, R-Jonesboro, said the budget attacks the state's debt, supports students and will attract new industries without a tax increase.

"We are strategically investing in education, workforce and training so we stay on track to create new high-demand, high-paying jobs, while we prepare our workforce to fill those jobs right here at home," McFarland said in a statement.

The budget includes $420 million for early childhood education. It also fully funds the K-12 education funding formula, lawmakers said. The budget increases per-pupil funding for school districts' operational needs from $100 to $147 per student. That money covers expenses like fuel, insurance, utilities and retirement costs.

Lawmakers also approved $50 million for an emergency fund, and sends a $144 million surplus payment to LASERS to pay down state retirement debt.

The House Ways and Means committee approved the Capital Outlay bill for the coming year. It covers construction contracts.