House Bill No. proposes a comprehensive constitutional amendment to Article VII of the Louisiana Constitution, focusing on revenue and finance. The bill clarifies that the power of taxation is vested solely in the legislature, prohibiting courts from exercising this power. It requires a two-thirds majority vote from both legislative houses for any new taxes, tax increases, or repeal of tax exemptions. The amendment introduces limitations on certain taxes, such as prohibiting ad valorem taxes on prescription drugs and establishing a centralized collection system for sales and use taxes at the parish level. Additionally, it outlines the allocation of severance taxes, updates provisions regarding motor vehicle license taxes, and enhances the authority of the Interim Emergency Board and the State Bond Commission.

The bill also establishes new funds, including the Coastal Protection and Restoration Fund and the Louisiana Education Quality Trust Fund, while introducing provisions for the management and appropriation of state funds. It emphasizes fiscal responsibility by instituting a Government Growth Limit and a Budget Stabilization Fund, which increases the cap on deposits. The proposed changes aim to enhance transparency, accountability, and effective management of state resources, ensuring that funds are used for their intended purposes, particularly in education, health care, and environmental initiatives. The amendments will be presented to voters in a statewide election scheduled for November 3, 2026.