Lawmakers talk tax bills in second week of legislative session
BATON ROUGE - A busy Monday starts the second week of the legislative session. Nearly a dozen proposed bills are up for discussion in the Senate Committee on Revenue and Fiscal Affairs.
Two of them deal with the flooding events last year, and tax breaks.
Under current state law, tax deductions are only provided for individuals or corporations who received benefits from a hurricane recovery entity.
The proposed bill broadens the deduction to include disaster benefits received from any state or federal agency, or recovery authority.
It doesn't stop there though. If passed, the law would provide a transition rule to allow taxpayers who received recovery benefits to amend their 2016 tax returns.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Funeral service held in Lafayette for former Gov. Kathleen Blanco
Local customers may be affected as AT&T employees go on strike
Drainage crews prepare for potential weekend downpour
Man who claimed God told him to cause deadly crash being sent...
Algae continues to take over LSU lakes, fish ordered