Bill > HB337

This bill establishes a new income tax credit for Louisiana taxpayers with children under six years old, providing a $500 credit per qualifying child. The credit is available to single, head of household, or married-filing-separately taxpayers with adjusted gross income of $30,000 or less, and to married-joint or qualified surviving spouse filers with adjusted gross income of $60,000 or less. Importantly, if the credit amount exceeds the taxpayer's tax liability, the excess will be refunded, meaning taxpayers can receive the full credit even if they owe less in taxes than the credit amount. The bill will take effect for tax years beginning on or after January 1, 2026, which means taxpayers can first claim this credit on their 2026 tax returns. The credit is designed to provide financial support to families with young children by reducing their tax burden and potentially providing additional income through the refundable feature.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB337&sbi=y