HLS 15RS-588 ENGROSSED
2015 Regular Session
HOUSE BILL NO. 234
BY REPRESENTATIVES FOIL, BARROW, LEGER, AND THIERRY
TAX/INCOME TAX: Excludes qualified deposits in ABLE Accounts from "tax table
income" for purposes of calculating individual income tax
1 AN ACT
2To enact R.S. 47:293(9)(a)(xviii), relative to individual income tax; to provide relative to tax
3 table income; to exclude certain contributions to savings accounts for financing
4 qualified expenses of persons with disabilities; to provide for an effective date; and
5 to provide for related matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 47:293(9)(a)(xviii) is hereby enacted to read as follows:
8 ยง293. Definitions
9 The following definitions shall apply throughout this Part, unless the context
10 requires otherwise:
11 * * *
12 (9)(a) "Tax table income", for resident individuals, means adjusted gross
13 income plus interest on obligations of a state or political subdivision thereof, other
14 than Louisiana and its municipalities, title to which obligations vested with the
15 resident individual on or subsequent to January 1, 1980, and less:
16 * * *
17 (xviii) For tax years beginning on and after January 1, 2016, the amount
18 deposited in a special savings account for financing of certain qualified expenses of
19 persons with disabilities as provided for in R.S. 46:1721 et seq., and any interest
20 accrued; however, any deposit plus interest withdrawn from an account for purposes
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-588 ENGROSSED
HB NO. 234
1 other than paying qualified expenses of persons with disabilities, as defined in R.S.
2 46:1721 et seq. shall be included in tax table income.
3 * * *
4 Section 2. The provisions of this Act shall become effective on January 1, 2016, and
5shall be applicable for all tax years beginning on and after January 1, 2016.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 234 Engrossed 2015 Regular Session Foil
Abstract: Excludes qualified deposits in ABLE Accounts from "tax table income" for
purposes of calculating individual income tax.
Present law establishes the ABLE Account Program to assist individuals in saving private
funds for the purpose of supporting persons with disabilities.
Present law defines "tax table income" for resident individuals for purposes of calculating
individual income tax. Tax table income excludes certain grants, loans, and other expenses,
deposits, and deductions.
Proposed law retains present law but adds qualified amounts deposited into ABLE Accounts
as provided in present law from being included in tax table income.
Effective Jan. 1, 2016, and applicable to all tax years beginning on and after that date.
(Adds R.S. 47:293(9)(a)(xviii))
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.