Present Constitution provides certain exemptions from ad valorem taxes (property taxes), which are property taxes based on the fair market value of all property subject to taxation by the tax assessor in each parish.

Proposed Constitutional Amendment adds an exemption for all property delivered to a construction project site for the purpose of using the property in any tract of land, building, or other construction as a component part until the construction project is complete as defined by law and reasonable industry standards. Once the construction project is complete or a phase is complete, available for its intended use, or operational when the property is assessed by the tax assessor, then the exemption no longer applies. This proposed exemption does not apply to public service property unless otherwise provided by the constitution.