Senate Bill No. 240, introduced by Senator Miguez, aims to provide an additional standard deduction for taxpayers aged sixty-five and older. The bill enacts a new provision in R.S. 47:294(C), which states that for tax years beginning on or after January 1, 2026, individuals in this age group will be entitled to an additional standard deduction equal to the amount applicable for a single individual under the existing law. This additional deduction is intended to offer financial relief to senior taxpayers when calculating their personal income tax liabilities.

The bill also specifies that the current standard deduction for single filers is set at $12,500, with provisions for annual adjustments based on the Consumer Price Index (CPI-U) starting January 1, 2026. The effective date for the new additional standard deduction is also January 1, 2026, ensuring that the benefits will be available to eligible taxpayers in the upcoming tax years.