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LA HB184
Bill
Status
6/11/2025
Primary Sponsor
Charles Owen
Click for details
AI Summary
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Creates a Louisiana individual income tax deduction for hardship distributions taken from retirement accounts by qualifying resident taxpayers
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Limits eligibility to taxpayers diagnosed with a terminal illness by a licensed physician, or in the case of married joint filers, includes a spouse with a terminal illness diagnosis
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Defines "hardship distribution" as a withdrawal from a retirement plan participant's elective deferral account due to immediate and serious financial need as determined by plan policies
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References R.S. 40:1169.3 for the definition of "terminal illness"
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Effective January 1, 2026, applying to taxable periods beginning on or after that date
Legislative Description
Authorizes an individual income tax deduction for certain amounts a taxpayer receives through hardship distributions from retirement accounts (EN DECREASE GF RV See Note)
TAX/INCOME-INDIV/EXEMPT
Last Action
Effective date: 01/01/2026.
6/11/2025