The bill, SB 119, proposes a constitutional amendment related to tax sales in Louisiana. It aims to repeal existing provisions that govern the forfeiture of property for nonpayment of taxes and instead requires the legislature to establish laws for the efficient administration of tax sales, including due process notice requirements. The proposed amendment also modifies the redemption period for properties sold in tax sales, allowing for a maximum penalty of 5% and interest not exceeding 1% per month on a non-compounding basis. Additionally, it grants tax collectors the authority to waive penalties for good cause and allows for the postponement of tax payments only during emergencies declared by the governor or parish president.

The bill includes several key changes, such as setting the effective date of the amendment to January 1, 2026, and moving the date of the statewide election for the proposed amendment from November 5, 2024, to December 7, 2024. It also stipulates that if a related amendment authorizing liens and privileges on immovable property for nonpayment of taxes is adopted before December 7, 2024, the current amendment will be withdrawn from the ballot. The report adopts House amendments that clarify these provisions while rejecting amendments that would have deleted certain ballot language regarding penalties and interest on delinquent property taxes.