TAX/TAXATION: Repeals the earned income tax credit. (1/1/26) (OR +$64,600,000 GF RV See Note)

SB 149 repeals Louisiana's earned income tax credit (EITC), a refundable tax credit for low-to-moderate income individuals and families. The bill removes this specific tax provision, meaning eligible taxpayers would no longer receive this credit starting with tax returns filed for 2026 (taxable periods beginning January 1, 2026). The repeal applies directly to Louisiana residents who currently qualify for the EITC under state law. The change takes effect on January 1, 2026, with no specified transition period.