Louisiana Expropriated Property Act (2008)
From Ballotpedia
The Louisiana Expropriated Property Act, or Louisiana Proposed Amendment 5, passed the state legislature as House Bill 461. This measure is a legislatively-referred constitutional amendment.
Election results
| Louisiana Expropriated Property Act: | ||||
|---|---|---|---|---|
| Votes | Percentage | |||
| Yes | 778,206 | 49.9% | ||
NO 
| 780,047 | 50.1% | ||
| Total votes | 1,558,253 | 100% | ||
Results according to the Louisiana Secretary of State.[1]
Specific Provisions
If it had passed, the measure would have:
- Amended the Louisiana Constitution to authorize the transfer of a special assessment level on property when the property has been sold to or expropriated by the federal or state government, provided that:[2]
- The new property be acquired no later than 24 months after the expropriation or sale becomes final and funds have been disbursed.
- The new property be similar in nature, have a fair market value which does not exceed 200% of the fair market value of the property sold or expropriated
- The new property is intended to replace the property that was sold or expropriated.
Supporters
Supporters include:
- State Representative Harold Richie, D-Bogalusa, sponsor
