This bill proposes an amendment to the Louisiana Constitution by adding Article VII, Section 21(P), which aims to extend an ad valorem tax exemption for property owners aged sixty-five and older. The amendment outlines a tiered exemption structure based on age, providing additional exemptions for those who qualify for the homestead exemption. Specifically, it offers increasing amounts of exemption based on age brackets, starting with an additional $6,000 for those aged sixty-five to sixty-nine, up to $30,000 for those eighty-one and older. The bill also allows surviving spouses of eligible property owners to qualify for the exemption under certain conditions.

Furthermore, the bill stipulates that the exemption will be applicable only in parishes or municipalities that approve it through a majority vote. It includes provisions to ensure that any decrease in ad valorem tax revenue resulting from the exemption will not create additional tax liabilities for other taxpayers, and it prohibits reappraisal or millage adjustments triggered by the implementation of this exemption. The proposed amendment is set to take effect on January 1, 2028, and will be submitted to voters in a statewide election on November 3, 2026.