(Constitutional Amendment) Provides relative to provisions in the La. Constitution requiring minimum bids in tax sales which are limited in applicability to municipalities meeting specified population characteristics (Item #8).
A JOINT RESOLUTION
Proposing to amend Article VII, Section 25(A)(2) of the Constitution of Louisiana, relative to ad valorem property taxes; to provide relative to minimum required bids in tax sales; to specify applicability to one or more political subdivisions or local areas; to provide for submission of the proposed amendment to the electors; and to provide for related matters.
Section 1. Be it resolved by the Legislature of Louisiana, two-thirds of the members elected to each house concurring, that there shall be submitted to the electors of the state of Louisiana, for their approval or rejection in the manner provided by law, a proposal to amend Article VII, Section 25(A)(2) of the Constitution of Louisiana, to read as follows:
§25. Tax Sales
(A) Tax Sales.
(2) If property located in a municipality with a population of more than four hundred fifty thousand persons as of the most recent federal decennial census the city of New Orleans fails to sell for the minimum required bid in the tax sale, the collector may offer the property for sale at a subsequent sale with no minimum required bid. The proceeds of the sale shall be applied to the taxes, interest, and costs due on the property, and any remaining deficiency shall be eliminated from the tax rolls.
Section 2. Be it further resolved that this proposed amendment shall be submitted to the electors of the state of Louisiana at the statewide election to be held on October 22, 2011.
Section 3. Be it further resolved that on the official ballot to be used at said election there shall be printed a proposition, upon which the electors of the state shall be permitted to vote FOR or AGAINST, to amend the Constitution of Louisiana, which proposition shall read as follows:
To amend provisions relative to tax sales in order to maintain an existing exemption from the minimum bid requirements for tax sales in the city of New Orleans due to changes in populations according to the 2010 census.
(Amends Article VII, Section 25(A)(2))