This bill proposes an amendment to Article VII, Section 18(G)(1)(a)(ii) of the Louisiana Constitution concerning ad valorem taxation and the special assessment level for property taxes. The amendment seeks to increase the income limit for individuals qualifying for the special assessment from $100,000 to $150,000. Additionally, it stipulates that for those filing as married separately, the income will be determined by combining the adjusted gross income from both federal tax returns. The bill also allows the assessor to verify income eligibility based on the applicant's federal adjusted gross income reported on their Louisiana income tax return for the year prior to the application.

Furthermore, starting in 2028, the income limit will be adjusted annually based on the Consumer Price Index. The amendment includes provisions that ensure any decrease in ad valorem tax revenue due to the special assessment will not create additional tax liabilities for other taxpayers in the district, nor will it trigger a reappraisal of property or adjustments to millages. The proposed amendment will be submitted to voters in a statewide election on November 3, 2026, and, if approved, will take effect on January 1, 2027.