HLS 23RS-630 ORIGINAL
2023 Regular Session
HOUSE BILL NO. 162
BY REPRESENTATIVE WILLARD
TAX CREDITS: Increases the amount of the earned income tax credit
1 AN ACT
2To amend and reenact R.S. 47:297.8(A)(2), relative to individual income tax credits; to
3 increase the amount of the earned income tax credit; to provide for applicability; to
4 provide for an effective date; and to provide for related matters.
5Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:297.8(A)(2) is hereby amended and reenacted to read as follows:
7 ยง297.8. Earned income tax credit
8 A.
9 * * *
10 (2) For tax years beginning on or after January 1, 2019, through December
11 31, 2030, there shall be a credit against the tax imposed by this Chapter for
12 individuals in an amount equal to five ten percent of the federal earned income tax
13 credit for which the individual is eligible for the taxable year under Section 32 of the
14 Internal Revenue Code.
15 * * *
16 Section 2. The provisions of this Act shall be applicable to all taxable years
17beginning on or after January 1, 2023.
18 Section 3. This Act shall become effective upon signature by the governor or, if not
19signed by the governor, upon expiration of the time for bills to become law without signature
20by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 23RS-630 ORIGINAL
HB NO. 162
1vetoed by the governor and subsequently approved by the legislature, this Act shall become
2effective on the day following such approval.
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 162 Original 2023 Regular Session Willard
Abstract: Increases the amount of the earned income tax credit from 5% to 10% through
Dec. 31, 2030.
Present law provides for an individual income tax credit in an amount equal to 5% of the
amount of the taxpayer's federal earned income tax credit authorized under Section 32 of the
Internal Revenue Code for tax years beginning Jan. 1, 2019, through Dec. 31, 2030.
Proposed law increases the amount of the state credit from 5% to 10% of the amount of the
taxpayers federal tax credit through Dec. 31, 2030.
Present law provides that beginning Jan. 1, 2031, the amount of the earned income tax credit
shall be 3.5% of the federal earned income tax credit.
Proposed law retains present law.
Proposed law is applicable to taxable years beginning on or after Jan. 1, 2023.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 47:297.8(A)(2))
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.