As of this morning, there are 301 bills pre-filed for the regular legislative session that convenes April 27. And even though the state is facing a $1.3 billion shortfall, a number of lawmakers are pushing for a variety of tax breaks. At least 50 bills so far offer up some sort of credit or deduction.
Among the most recently filed is House Bill 210 by Rep. Kirk Talbot, a River Ridge Republican, which would increase the tax deduction for tuition and fees spent on a child in private schooling or the expenses incurred from homeschooling. Talbot’s proposal would take the threshold from 50% of the actual amounts paid or $5,000 per child to 85% of the costs or $8,000 per child.
Rep. Gary Smith, a Democrat from Norco, is pushing House Bill 216, which would create a new tax credit to cover student loan interest paid by a Louisiana resident earning a graduate or professional degree in the state within the last five years.
Smith has also authored House Bill 217 to create another set of credits for the expenses of any oil or gas drilling inside the state—on land or in water—that has taken place since Jan. 1 of this year. The credits could be used against state income and corporation franchise taxes in order to “promote oil and gas drilling in Louisiana.”—Jeremy Alford
