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LA HB898
Bill
Status
2/27/2026
Primary Sponsor
Dixon McMakin
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AI Summary
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Creates an automatic individual income tax rate reduction mechanism beginning January 1, 2027, triggered when state general fund surplus is carried forward and recognized by the Revenue Estimating Conference as nonrecurring revenues
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Requires the Department of Revenue secretary to calculate rate reductions equal to 50% of the certified surplus amount, with no reduction occurring if it would be 0.05% or less
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Current individual income tax rate is 3%; reductions would apply to the tax year beginning the January after the surplus certification
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Department of Revenue must publish any reduced rate on its website and update tax tables and withholding tables accordingly
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Officially titled the "Louisiana Income Tax Elimination Act" or "LITE Act," effective July 1, 2027
Legislative Description
Provides for a reduction in the rate of the state tax levied on individuals under certain circumstances
TAX/INCOME TAX
Last Action
Read by title, under the rules, referred to the Committee on Ways and Means.
3/9/2026