House Bill No. by Representative Young proposes amendments to Louisiana's income tax laws to allow for tax deductions related to compensation earned by intercollegiate athletes. The bill introduces new legal provisions that authorize individual income tax deductions for compensation earned by intercollegiate athletes for the use of their name, image, or likeness, with a cap of $12,500 or the actual amount earned, whichever is less. Additionally, it allows corporations to deduct similar amounts paid to intercollegiate athletes under the same conditions. The bill defines "intercollegiate athlete" and "postsecondary education institution," and specifies that deductions do not apply to compensation related to endorsements of tobacco, alcohol, illegal activities, or beyond the athlete's participation in athletic programs.

The proposed law also includes provisions for the Secretary of the Department of Revenue to create rules and regulations for implementation. The changes will take effect on January 1, 2026, and will apply to compensation earned or paid to intercollegiate athletes from that date forward. The bill aims to provide financial benefits to student-athletes while ensuring compliance with existing regulations regarding prohibited compensation.

Statutes affected:
HB168 Original: 47:293(10)