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LA SB240
Bill
Status
Introduced
4/23/2025
Primary Sponsor
Blake Miguez
Click for details
AI Summary
- Taxpayers aged 65 or older receive an additional standard deduction equal to the single filer standard deduction amount ($12,500 base amount)
- The additional deduction is on top of the taxpayer's regular standard deduction based on filing status
- Applies to tax years beginning on or after January 1, 2026
- Estimated fiscal impact of -$72,500,000 in General Fund revenue
- Amends R.S. 47:294 by adding subsection (C)
Legislative Description
Provides for an additional standard deduction for taxpayers sixty-five years of age and older. (1/1/26) (OR -$72,500,000 GF RV See Note)
TAX/INCOME/PERSONAL
Last Action
Read second time by title and referred to the Committee on Revenue and Fiscal Affairs.
4/28/2025
Committee Referrals
Revenue & Fiscal Affairs4/28/2025
Full Bill Text
No bill text available