Bill to exempt flood victims from taxes pass in Senate
A key Senate panel approved Senator Neil Riser’s bill exempting flood victims from paying state income tax in 2017. Without objection, the Senate Revenue and Fiscal Affairs Committee approved SB 240 on May 1.
“This morning, we sent an important message to flood victims across Louisiana that you are not forgotten,” Riser said. “Many families and businesses are still struggling to recover. With limited funds available, the least the state can do is exempt them from paying income tax for one year while they rebuild their lives,” Riser said.
If the bill becomes law, the first $100,000 of income that a family earns in 2017 will be exempt from state income tax if the family sustained $10,000 or more of losses during 2016 flooding.