RS 47:297.26
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/la/title-47/47-2656A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 47:297.26
§297.26. Tax deduction; hardship distributions from retirement accounts
A. There shall be allowed a deduction from tax table income for amounts that a qualifying resident taxpayer receives in a taxable year through hardship distributions from one or more retirement accounts.
B. For purposes of this Section, the following terms shall have the meanings ascribed to them in this Subsection:
(1)"Hardship distribution" means a withdrawal from a retirement plan participant's elective deferral account made because of an immediate and serious financial need as determined in accordance with the policies of the plan.
(2)"Qualifying taxpayer" means a taxpayer who has been diagnosed with a terminal illness by a licensed physician. In the case of married joint filers, "qualifying taxpayer" shall also mean a taxpayer's spouse who has been diagnosed with a terminal illness by a licensed physician.
(3)"Terminal illness" shall have the meaning ascribed in R.S. 40:1169.3.
Acts 2025, No. 251, §1, eff. Jan. 1, 2026.