House Bill No. by Representative Emerson proposes to enact a new income tax deduction for Louisiana residents aged sixty-five and older. This deduction will be equal to the standard deduction amount for single individual filers, which is currently set at $12,500. The bill includes provisions that require taxpayers claiming this deduction to maintain necessary records to verify their eligibility and to provide these records to the Department of Revenue upon request. Additionally, the Secretary of the Department of Revenue is authorized to create rules and regulations to implement this deduction.

The new legal language introduced in the bill includes the addition of R.S. 47:293(9)(a)(xxvii) and R.S. 47:297.26, which outline the specifics of the deduction and its applicability. The provisions of this act will apply to all taxable periods beginning on or after January 1, 2027, with an effective date set for January 1, 2026. This legislation aims to provide financial relief to senior taxpayers by allowing them to benefit from an additional income tax deduction.