Exempts the refundable portion of the child tax credit from seizure. (gov sig)
Impact
If enacted, SB217 would have significant implications for the enforcement of debt collection in Louisiana. While certain exemptions already exist under current law, the bill specifically broadens the scope of protected income by ensuring that the refundable portions of child tax credits cannot be seized for tax debts or arrears in child support payments. This reinforces the state’s commitment to safeguarding familial financial wellbeing during times of economic hardship.
Summary
Senate Bill 217 aims to amend Louisiana law regarding the general exemptions from seizure by explicitly exempting the refundable portion of the child tax credit from being subject to seizure under any writ, mandate, or process. This change is intended to protect the financial resources of families, allowing parents or guardians to retain crucial tax benefits meant to support children's welfare. By reinforcing this exemption, the bill advocates for improved economic stability among families relying on these tax credits.
Sentiment
The sentiment surrounding SB217 appears to be largely positive, garnering support from legislators and advocacy groups focused on family welfare and financial assistance. The bill was passed unanimously with a vote of 92-0 in the House, indicating a strong consensus among lawmakers regarding its importance. This overwhelming support reflects a recognition of the necessity to protect vulnerable populations from aggressive debt collection practices that could undermine family stability.
Contention
Notably, while SB217 received widespread support, some could argue potential drawbacks in situations where debts remain unpaid and affect statewide revenue collection. However, the prevailing argument emphasizes the importance of ensuring basic financial security for families, which aligns with societal values related to child welfare and parental responsibilities. Overall, the bill seeks to balance the collection of debts with the need to preserve essential financial resources for families.
Provides for a swap of refundable tax credits by establishing a system to terminate certain existing exemptions, exclusions, deductions, and credits to fund refundable credits for donations to higher education and health care. (7/1/15)