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LA HB236
Bill
Status
Introduced
4/1/2025
Primary Sponsor
Brian Glorioso
Click for details
AI Summary
- Creates a Louisiana individual income tax deduction for homeowners' insurance policy premiums paid on a taxpayer's primary residence where they claim a homestead exemption
- Deduction equals the full actual amount of premiums paid during the taxable year, with no cap
- Property must be located in Louisiana and owned by the taxpayer claiming the deduction
- Taxpayers must maintain records of premiums paid and provide documentation to the Department of Revenue upon request
- Effective January 1, 2026, with an estimated fiscal impact of -$69.9 million to the General Fund
Legislative Description
Establishes an individual income tax deduction for certain property insurance policy premiums (OR -$69,900,000 GF RV See Note)
TAX/INCOME TAX
Last Action
Read by title, under the rules, referred to the Committee on Ways and Means.
4/14/2025
Committee Referrals
Ways and Means4/1/2025
Full Bill Text
No bill text available