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 adjusted gross income limit for individuals qualifying for the special assessment from $100,000 to $150,000. Additionally, it allows the assessor to verify an applicant's income eligibility based on their federal adjusted gross income reported on their Louisiana income tax return. Starting in 2028, this income limit will be adjusted annually according to the Consumer Price Index.

Furthermore, the bill stipulates that any decrease in ad valorem tax revenue due to the special assessment will be absorbed by the taxing authority, preventing additional tax liabilities for other taxpayers in the district. It also clarifies that the implementation of the special assessment will not 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.