Establishes an income tax credit for certain funeral and burial expenses for certain pregnancy-related deaths (EN -$75,000 GF RV See Note)
The enactment of HB 301 signifies a proactive approach by the Louisiana legislature to address the tragic issue of pregnancy-related deaths. This bill not only provides financial relief but also acknowledges the complexities and emotional toll such losses entail. By offering a tax credit, the law aims to ease the financial stress experienced by families during an already painful time. The provision for the funding mechanism through tax credits could have implications for state revenue, as it anticipates a decrease of approximately $75,000 from the general fund.
House Bill 301 introduces an income tax credit aimed at alleviating the financial burden on families facing pregnancy-related deaths in Louisiana. The bill allows either the estate or the individual who incurred reasonable funeral and burial expenses to claim a tax credit. The credit is capped at either the actual expenses incurred or $5,000, whichever is lower, and can be claimed in the year the death occurs. This credit is specifically applicable to cases categorized as 'pregnancy-related deaths', providing a defined scope for which taxpayers can receive assistance.
General sentiment surrounding HB 301 appears to be supportive among lawmakers and advocacy groups that focus on maternal health and family welfare. The bill has garnered attention for its compassionate intent to support Louisiana families during their times of grief. While the sentiment is largely positive, there may be concerns regarding the financial implications of additional tax credits on the state budget, especially in the context of balancing fiscal responsibilities with social support measures.
Notable points of contention surrounding HB 301 could involve discussions about the adequacy of the tax credit amount in covering funeral expenses. Some may argue that $5,000 may not be sufficient to address the full spectrum of burial costs, potentially leaving grieving families with unexpected expenses. Additionally, the requirement that the claimant be a Louisiana taxpayer may prompt scrutiny regarding equity, ensuring that all families affected by such tragedies can access these funds regardless of their financial standing.