House Bill No. 487 proposes an amendment to Article VII, Section 2 of the Louisiana Constitution, which addresses the voting requirements for tax-related legislation. The amendment stipulates that the enactment of a new tax, an increase in an existing tax, or the establishment of a tax exemption, exclusion, deduction, credit, or rebate will require a two-thirds majority vote from the elected members of each house of the legislature. Conversely, the repeal of a tax exemption will only require a majority vote from the elected members of each house, as the previous requirement for a two-thirds majority for repeal has been removed.

The proposed amendment will be submitted to voters during the statewide election scheduled for October 14, 2023. The ballot will present the question of whether voters support the new requirements for tax legislation, specifically the two-thirds vote for new taxes and tax benefits, while allowing a majority vote for the repeal of tax exemptions. This change aims to clarify and adjust the legislative process surrounding tax laws in Louisiana.