TAX/INCOME TAX: Reduces the rate of the state tax levied on the net income of individuals over a ten-year period (OR -$40,100,000 GF RV See Note)

HB 411, titled "The Pelican Promise: Zero in Ten Income Tax Freedom Act," gradually reduces Louisiana's individual income tax rates over 12 years, phasing out the tax entirely by 2039. It lowers the tax rate from 3% for 2027 to 0% for all income starting in 2039, with incremental reductions each year (e.g., 2.9% in 2028, 2.8% in 2029, etc.). The bill directly affects all Louisiana residents who pay state income tax, as it applies to taxable income beginning January 1, 2027. The key mechanism is a scheduled, step-by-step rate reduction, culminating in no state income tax on individual earnings after 2038. The law takes effect January 1, 2027, and is scheduled to eliminate the tax entirely by 2039.