House Bill No. 300 proposes a constitutional amendment to increase the income threshold for qualifying for the special assessment level for ad valorem taxation in Louisiana. The bill raises the adjusted gross income limit from $100,000 to $150,000, with the new limit to be adjusted annually for inflation starting in 2028. It also establishes that assessors can verify an applicant's income eligibility based on their federal adjusted gross income reported on their Louisiana income tax return for the year prior to the application. The amendment aims to ensure that a decrease in ad valorem tax revenue due to the special assessment level will be absorbed by the taxing authority, preventing additional tax liabilities for other taxpayers in the district.

The proposed amendment will be submitted to voters in a statewide election scheduled for November 3, 2026, and, if approved, will take effect on January 1, 2027, applying to all tax years beginning on or after that date. The bill retains existing provisions that limit eligibility for the special assessment level to specific groups, including individuals aged 65 and older, those with certain disabilities, and members of the armed forces who have been killed or are missing in action. Overall, the bill aims to provide greater financial relief to eligible property owners while maintaining the integrity of the tax system.