Bill > SB52

This bill creates a tax exemption for grants received through the Louisiana Fortify Homes Program, specifically excluding these grant amounts from an individual's taxable income for state income tax purposes starting January 1, 2025. The Louisiana Fortify Homes Program appears to be a state initiative designed to provide financial assistance to homeowners, likely for home repairs, improvements, or disaster resilience. By exempting these grant amounts from taxable income, the bill ensures that recipients of these grants will not have to pay additional state income tax on the money they receive, effectively increasing the net financial benefit of the program. The bill amends two sections of Louisiana state law: R.S. 22:1483.1 and R.S. 47:293, adding language that specifically defines these grants as non-taxable income. The bill will become effective upon the governor's signature or as specified in the Louisiana Constitution, ensuring that recipients of these grants can fully utilize the financial support without additional tax burden.