HLS 23RS-769 ORIGINAL
2023 Regular Session
HOUSE BILL NO. 391
BY REPRESENTATIVE FONTENOT
TAX/INCOME TAX: Authorizes an individual income tax deduction for property insurance
premium costs for taxpayers' primary residences
1 AN ACT
2To enact R.S. 47:293(9)(a)(xxvi) and 297.23, relative to individual income tax; to authorize
3 deductions from tax table income for property insurance premiums paid by taxpayers
4 for primary residences; to specify types of property insurance premiums that qualify
5 for the deduction; to authorize promulgation of administrative rules; to provide for
6 applicability; to provide for effectiveness; and to provide for related matters.
7Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 47:293(9)(a)(xxvi) and 297.23 are hereby enacted to read as follows:
9 §293. Definitions
10 The following definitions shall apply throughout this Part, unless the context
11 requires otherwise:
12 * * *
13 (9)(a) "Tax table income", for resident individuals, means adjusted gross
14 income plus interest on obligations of a state or political subdivision thereof, other
15 than Louisiana and its municipalities, title to which obligations vested with the
16 resident individual on or subsequent to January 1, 1980, and less:
17 * * *
18 (xxvi) The deduction for property insurance premiums for primary
19 residences authorized in R.S. 47:297.23.
20 * * *
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are additions. HLS 23RS-769 ORIGINAL
HB NO. 391
1 §297.23. Tax deduction; property insurance premiums for primary residences
2 A. There shall be allowed a deduction from tax table income for a taxpayer
3 in the amount of the premiums for a homeowner's insurance policy, condominium
4 owner's insurance policy, or renter's insurance policy for the taxpayer's primary
5 residence paid by the taxpayer during the taxable year.
6 B. A taxpayer who claims the deduction authorized in this Section shall
7 maintain all records necessary to verify the property insurance premiums paid for his
8 primary residence in the taxable year for which he claims the deduction and, if
9 requested, shall provide these records to the Department of Revenue in connection
10 with the filing of his tax return.
11 C. The secretary of the Department of Revenue may promulgate rules in
12 accordance with the Administrative Procedure Act to implement the provisions of
13 this Section. Such rules may include requirements for submission by taxpayers of
14 documentation relating to deduction amounts claimed.
15 Section 2. The provisions of this Act shall apply to taxable periods beginning on or
16after January 1, 2023.
17 Section 3. This Act shall become effective upon signature by the governor or, if not
18signed by the governor, upon expiration of the time for bills to become law without signature
19by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
20vetoed by the governor and subsequently approved by the legislature, this Act shall become
21effective 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 391 Original 2023 Regular Session Fontenot
Abstract: Authorizes individual income tax deductions for homeowner's insurance
premiums, condominium owner's insurance premiums, and renter's insurance
premiums for insurance on taxpayers' primary residences.
Proposed law authorizes a deduction from tax table income for a taxpayer in the amount of
the premiums for a homeowner's insurance policy, condominium owner's insurance policy,
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HB NO. 391
or renter's insurance policy for the taxpayer's primary residence paid by the taxpayer during
the taxable year.
Proposed law requires taxpayers who claim the deduction to maintain all records necessary
to verify the property insurance premiums paid for his primary residence in the taxable year
for which he claims the deduction. Requires that, if requested, a taxpayer shall provide these
records to the Dept. of Revenue in connection with the filing of his tax return.
Proposed law authorizes the secretary of the Dept. of Revenue to promulgate administrative
rules as necessary to implement the provisions of proposed law.
Proposed law applies to taxable periods beginning on or after Jan. 1, 2023.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Adds R.S. 47:293(9)(a)(xxvi) and 297.23)
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.