Included in the two amendments are measures to prohibit the Legislature from mandating that a parish exempt business inventory from ad valorem taxes. The amendment would also set the assessed valuation percentages for business inventory and public service property owned by railroads at fifteen percent (15%), but would authorize parishes to exempt, in part or in full, business inventory by reducing the percentage of fair market value applicable to business inventory if certain local officials all agree. Finally, the amendment would authorize a one-time payment from the Revenue Stabilization Fund to each parish that elects to irrevocably exempt all business inventory from ad valorem taxes. The goal of the amendment is to make doing business in the state more attractive.
The second amendment would allow the Legislature to consolidate certain trust funds related to education and place the funding within the Teachers’ Retirement Fund. This would include The Education Excellence Fund, The Louisiana Education Quality Trust Fund, and The Louisiana Quality Education Support Fund. The goal of this amendment is to improve efficiency in managing the various education trust funds.
The savings would be used by each public school system that participates in the Teachers’ Retirement System to provide a permanent salary increase, plus any related benefits, of two thousand two hundred fifty dollars ($2,250.00) for certificated personnel and one thousand one hundred twenty-five dollars ($1,125.00) for noncertificated personnel.
Proponents hope that a simplified version of the changes will fare better with voters after acknowledging that the March 2025 referendum may have been too complex. Voters will have an opportunity to vote on the proposed amendments on April 18, 2026.
For further updates regarding this topic, contact Liskow attorneys Bob Angelico, Leon Rittenberg III, Caroline Lafourcade, and Kevin Naccari, Jr. and visit our Tax practice page.