Louisiana 2018 2018 1st Special Session

Louisiana Senate Bill SB2 Comm Sub / Analysis

                    The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Leonore Heavey.
DIGEST
SB 2 Original 2018 First Extraordinary Session	Morrell
Present law provides that the deduction from state income taxes for federal income tax is the amount
of federal income taxes paid less any federal income tax credits determined by the secretary of
revenue to be disaster relief credits.
Proposed law provides that for taxable years beginning on or after January 1, 2016, and before
January 1, 2018, the federal income tax deduction from state income taxes allowed for individuals
will not be reduced by the amount of net disaster losses deducted on the person's federal income tax
return for the same tax period. 
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 47:293(4)(d))