TAX/AD VALOREM-EXEMPTION: (Constitutional Amendment) Prohibits ad valorem tax exemptions for property owned by nonprofit organizations used for commercial purposes (OR SEE FISC NOTE LF RV)

HB 448 proposes a constitutional amendment to Louisiana's property tax code, restricting tax exemptions for nonprofit organizations. It would prohibit tax exemptions on nonprofit-owned property used for commercial purposes unrelated to the nonprofit's exempt purpose (e.g., renting space for a for-profit business). This directly affects nonprofits operating commercial activities on their property, requiring them to pay ad valorem taxes on that portion. The amendment must be approved by voters in the November 2026 election and would take effect January 1, 2027.