DIGEST The digest printed below was prepared by House Legislative Services. It constitutes no part of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)] HB 36 Engrossed 2020 First Extraordinary Session Ivey Abstract: Establishes standard, local, and executive property tax exemptions for capital investment projects when the projects meet eligibility and approval standards pursuant to law. Present constitution authorizes a property tax exemption for new manufacturing establishments and additions to existing establishments for an initial term of five years, with a five-year renewal. The exemption is effectuated through a contract granted by the Board of Commerce and Industry, with the approval of the governor. Proposed constitutional amendment authorizes three ad valorem property tax exemptions for capital investment projects as follows: (1)A standard exemption for a term of eight calendar years for 80% of its property taxes. The exemption is subject to review by the Board of Commerce and Industry. This exemption is subject to local approval as provided by law. (2)A local exemption for a term of no more than 15 calendar years for up to 100% of its property taxes. This exemption requires the approval of local taxing authorities as provided by law. (3)An executive exemption for a term determined by the governor for up to 100% of its property taxes. This exemption requires approval of the governor and is subject to local approval as provided by law. Proposed constitutional amendment also requires that any law enacted to administer any of the new exemptions requires a favorable vote of two-thirds of the elected members of each house of the legislature. Proposed constitutional amendment retains present constitution requirement related to listing property on tax assessment rolls and deletes various definitions. Provides for submission of the proposed amendment to the voters at the statewide election to be held Nov. 3, 2020. (Amends Const. Art. VII, ยง21(F))