House Bill No. by Representative Glorioso proposes the enactment of a new individual income tax deduction for homeowners' insurance policy premiums paid by resident taxpayers. The bill introduces new legal language in R.S. 47:293(9)(a)(xxvii) to define "tax table income" and includes R.S. 47:297.6, which outlines the specifics of the deduction. The deduction is applicable to premiums paid for residential properties that are owned by the taxpayer and serve as their primary residence for which they claim a homestead exemption. The amount of the deduction will equal the actual premiums paid during the taxable year.

Additionally, the bill mandates that taxpayers claiming this deduction must maintain all relevant records and documentation regarding their homeowners' insurance premiums and provide this information to the Department of Revenue upon request when filing their income tax returns. The secretary of the Department of Revenue is also authorized to create necessary rules for implementing these provisions. The effective date for this deduction is set for January 1, 2026, and it will apply to premiums paid on or after that date.