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LA SB235
Bill
Status
5/14/2025
Primary Sponsor
Royce Duplessis
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AI Summary
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Creates an individual income tax credit for homeowner's insurance premiums on a primary residence, capped at $2,000 per taxpayer, for households earning up to 200% of federal poverty guidelines
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Limits total credits to $10 million per calendar year, distributed on a first-come, first-served basis, with excess applications rolling over to the following year
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Credit is refundable for taxpayers with federal adjusted gross income of $25,000 or less; those above $25,000 may carry forward unused credits for up to five years
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Program expires for taxable periods beginning on or after January 1, 2036
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Effective January 1, 2026, with the Department of Revenue authorized to promulgate rules for implementation
Legislative Description
Establishes an individual income tax credit for payments made toward a homeowner's insurance policy premium. (1/1/26) (RE -$10,000,000 GF RV See Note)
TAX/INCOME/PERSONAL
Last Action
Read third time by title, amended, roll called on final passage, yeas 49, nays 52. Failed to pass.
6/9/2025