Enacts the Louisiana Fair Tax Act and repeals state taxes levied on the net income of individuals and corporations and the corporate franchise taxes (OR SEE FISC NOTE GF RV)
(Constitutional Amendment) Repeals provision authorizing the state to levy a tax on net incomes and adds a provision prohibiting the state from levying a tax upon the income of individuals or corporations (OR -$943,000,000 GF RV See Note)
Excludes from state and local sales and use tax the sales of tangible personal property and services sold by the sponsor at events sponsored by certain nonprofit organizations (EN -$1,000,000 GF RV See Note)