A major rewrite of Article VII of Louisiana’s constitution is being considered by Louisiana lawmakers as part of broader tax reforms proposed by Gov. Jeff Landry, The Center Square reports.
The proposed changes would impact everything from prescription drug tax exemptions to local government funding and severance tax distribution.
Among the proposals is an extension of the state’s 100% prescription drug tax exemption to local parishes. Currently, prescription drugs are exempt from state-level taxation, but this new measure would ensure that parishes also recognize this exemption.
Another major provision would double the standard deduction for seniors. Louisiana seniors over age 65 currently receive a standard deduction of $12,500, but under the rewrite, the amount would rise to $25,000 for individuals and $50,000 for married couples.
Other provisions look to remove specific funds from the state constitution and place them into statutes. This includes the Revenue Stabilization Fund, which would be moved to statute and rerouted to the state’s general fund.
