House Bill No. [insert number] amends and reenacts specific provisions of Louisiana's individual income tax law, particularly focusing on the construction code retrofitting income tax deduction. The bill defines the "construction code retrofitting deduction" as an amount equal to fifty percent of the costs incurred by a taxpayer to retrofit an existing residential structure, which must be the taxpayer's homestead and not rental property. The bill expands the eligibility criteria for the deduction to include compliance with the fortified home standards of the Insurance Institute for Business and Home Safety, in addition to the State Uniform Construction Code. It also increases the maximum deduction amount from five thousand dollars to ten thousand dollars per retrofitted structure.

Additionally, the bill repeals certain existing provisions related to the deduction and mandates the Secretary of the Department of Revenue to establish rules and regulations necessary for implementing the new provisions, including the forms and verification documents required for taxpayers to claim the deduction. The changes will take effect for taxable periods beginning on or after January 1, 2026, and the bill is set to become effective on that same date.

Statutes affected:
HB145 Original: 47:293(2)
HB145 Engrossed: 47:293(2)
HB145 Enrolled: 47:293(2)