The bill, SB 119, proposes a constitutional amendment regarding tax sales in Louisiana. It aims to repeal existing provisions that govern the forfeiture of property for nonpayment of taxes and establish new legislative requirements for the efficient administration of tax sales. Key changes include the introduction of a redemptive period for property sold in tax sales, with specific limits on penalties and interest, and the authority for tax collectors to waive penalties for good cause. The bill also modifies the conditions under which tax payment postponements can be granted, allowing for postponements only during emergencies declared by the governor or parish president.

The bill includes several amendments adopted by the House, such as changing the date for the proposed amendment's statewide election from November 5, 2024, to December 7, 2024, and establishing an effective date of January 1, 2026, for the constitutional amendment. Additionally, it specifies 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on immovable property for nonpayment of taxes is adopted before December 7, 2024, the current amendment will be withdrawn from the ballot.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 also rejects amendments that would have deleted certain ballot language concerning penalties and interest on delinquent property taxes.