This bill amends the Louisiana Revised Statutes concerning individual income tax by modifying the provisions related to the construction code retrofitting income tax deduction. Specifically, it redefines the deduction to include an amount equal to fifty percent of the costs incurred by taxpayers to retrofit their residential structures to comply with the State Uniform Construction Code or the fortified home standards of the Insurance Institute for Business and Home Safety. The bill also increases the maximum deduction amount from five thousand dollars to ten thousand dollars per retrofitted structure and mandates that the deduction be claimed in the taxable year when the work is completed.

Additionally, the bill repeals certain existing provisions related to the deduction and requires the Secretary of the Department of Revenue to establish rules and regulations necessary for its implementation, including the forms and verification documents needed for taxpayers to claim the deduction. The new provisions will take effect for taxable periods beginning on or after January 1, 2026.

Statutes affected:
HB145 Original: 47:293(2)
HB145 Engrossed: 47:293(2)
HB145 Enrolled: 47:293(2)
HB145 Act 473: 47:293(2)