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Louisiana Business Property Tax Exemption, Amendment 8 (2012)
|Business Property Tax Exemption Amendment|
|Referred by:||Louisiana State Legislature|
|Status:||On the ballot|
Text of measure
The official ballot text reads as follows:
Do you support an amendment to authorize the granting of ad valorem tax exemption contracts by the Board of Commerce and Industry for businesses located in parishes which have chosen to participate in a program established for the granting of such contracts?
The South Louisiana Economic Council has come out in support of the measure. They say that businesses will be encouraged to bring their investments into Louisiana while at the same time creating a variety of jobs.
The Public Affairs Research Council noted, in its analysis of the measure, that one argument against the amendment is the lack of local control due tot he fact that the "final decision about whether to grant the property tax exemption would be made at the state level by the secretary of economic development and the Board of Commerce and Industry, not by the local governments that have the most at stake with regard to property taxes."
Path to the ballot
The legislatively-referred constitutional amendment required a two-thirds vote from members of both houses of the Louisiana State Legislature to be placed on the statewide ballot.