TAX/INCOME TAX: Provides for a reduction in the rate of the state tax levied on individuals under certain circumstances (OR DECREASE GF RV See Note)

HB 898, the "Louisiana Income Tax Elimination Act" (LITE Act), would reduce Louisiana's individual income tax rate starting in 2027 under specific conditions. The reduction equals 50% of one-time state funds certified as nonrecurring revenue by the budget committee and confirmed by revenue estimators. If the calculated rate drop would be 0.05% or less, no change occurs. The Department of Revenue must publish the new rate online and in official tax tables. This applies directly to Louisiana residents filing individual income tax returns.