NEW ORLEANS, La. (WGNO)- Amendment 1 was just one of seven Louisiana Constitutional Amendments on the ballot.
Out of the seven amendments on the ballot this election, Louisiana decided only two of the amendments would not pass.
Amendment 4 and Amendment 5 were the two with ‘NO’ votes. It was a close race though. None of the final decisions came in like a landslide.
Let’s start with Amendment 2: Fair Market Value of Oil and Gas Wells
Amendment 2 got a ‘YES’ vote with 58% of the votes. This means high-producing wells would be taxed more and low-producing wells would be taxed less. This change will more specifically clarify the language.
Amendment 3: Budget Stabilization Fund
This amendment is also known as the “rainy day fund.” It passed with 55% of the votes.
Amendment 4: Expenditure Limit
Almost 56% of Louisiana voted ‘NO,’ making it a failed change. Since this was a failed amendment, the state’s spending limit will remain the same.
Amendment 5: Cooperative Endeavor Tax
Louisiana’s Amendment 5 deals with property taxes. It also failed. About 63% of voters said ‘NO.’ This vote leaves the current system as is; with only one set of property taxes, payments, or exemptions for manufacturers.
Amendment 6: Homestead Exemption Income Limit
Passing with 62% of voters saying ‘YES,’ this change will raise the income limit. It will make Louisiana a more attractive retiring place.
Amendment 7: Unclaimed Property Fund
This amendment received 64% of ‘YES’ votes. The state will now be able to tap into money taxpayers leave behind.
