HLS 15RS-1254 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 553
BY REPRESENTATIVE JAMES
TAX/INCOME TAX: Reduces the amount of the individual income tax deduction for
excess itemized personal deductions
1 AN ACT
2To amend and reenact R.S. 47:293(3), relative to the individual income tax; to provide with
3respect to the deduction for excess federal itemized personal deductions; to provide for the
4amount of the deduction; to provide for effectiveness; and to provide for related matters.
5Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:293(3) is hereby amended and reenacted to read as follows:
7 ยง293. Definitions
8 The following definitions shall apply throughout this Part, unless the context requires
9otherwise:
10 * * *
11 (3) For all tax years beginning on and after January 1, 2015,"Excess excess
12 federal itemized personal deductions" for the purposes of this Part, means the
13 following percentages fifty percent of the amount by which the federal itemized
14 personal deductions exceed the amount of federal standard deductions which is
15 designated for the filing status used for the taxable period on the individual income
16 tax return required to be filed:.
17 (a) For tax years beginning during calendar year 2007, fifty-seven and one half
18percent of such excess federal itemized personal deductions.
19 (b) For tax years beginning during calendar year 2008, sixty-five percent of such
20excess federal itemized personal deductions.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-1254 ORIGINAL
HB NO. 553
1 (c) For all tax years beginning on and after January 1, 2009, one hundred percent of
2such excess federal itemized personal deductions.
3 Section 2. The provisions of this Act shall become effective on January 1, 2016, and
4shall be applicable for all taxable periods beginning on or after that date.
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 553 Original 2015 Regular Session James
Abstract: Reduces the amount of the individual income tax deduction for excess federal
itemized personal deductions from 100% to 50% for tax years beginning in 2016.
Present law authorizes a deduction from individual income taxes for excess federal itemized
personal deductions. Excess federal itemized personal deductions is defined to mean 100%
of the amount by which the federal itemized personal deductions exceed the amount of
federal standard deduction designated for the filing status used for the taxable period on the
individual income tax return.
Proposed law reduces the amount of the deduction from 100% to 50% in tax years beginning
on and after Jan. 1, 2016.
Effective Jan. 1, 2016, and applicable for taxable periods beginning on or after Jan. 1, 2016.
(Amends R.S. 47:293(3))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.