CA 10 1     

ART. X.  REVENUE AND TAXATION

§1.  Taxing power; specific taxes

Section 1.  Vesting of power; restrictions; assessments and valuations. The power of taxation shall be vested in the Legislature; shall never be surrendered, suspended or contracted away; and all taxes shall be uniform upon the same class of subjects throughout the territorial limits of the authority levying the tax, and shall be levied and collected for public purposes only. No property shall be assessed for more than its actual cash value, ascertained as directed by law, and all tax-payers shall have the right of testing the correctness of their assessments before the courts at the domicile of the assessing authority, or as may be directed by law. The valuation and classification fixed for state purposes shall be the valuation and classification for local purposes; but the taxing authorities of the local subdivision may adopt a different percentage of such valuation for purposes of local taxation.

Income taxes. Equal and uniform taxes may be levied upon net incomes, and such taxes may be graduated according to the amount of the net income. Public officials shall not be exempted. Reasonable exemptions may be allowed.

Reforestation; valuation agreements; severance tax. For the purpose of encouraging the reforestation of denuded lands, contracts fixing the assessed valuation of the specific lands for the duration of the agreements, and fixing a total severance tax based on the value of forest products when severed, three-fourths of which shall go to the parish where they are severed, and which severance tax, for a period not to exceed fifty years from the date of such contract, shall be in lieu of all other taxes on said forest products, are hereby authorized under such regulations, terms and conditions as may be prescribed by law; and the regulations, terms and conditions of such contracts as authorized may be made retroactive by the consent of the parties as respects the limit of taxation, on contracts theretofore entered into.

General provisions. Any legislation adopted at the regular session of the Legislature in 1934 based upon this proposed amendment shall be validated and ratified by the adoption of this amendment.

The said income tax schedule of rates shall never exceed the schedule imposed in House Bill No. 339 of the Regular Session of the Legislature for the year 1934.

Severance tax on timber. Repealed by Acts 1975, No. 460.

Distribution of tax. Repealed by Acts 1975, No. 317.

Valuation. After the effective date of this amendment, no additional value shall be added to the assessment of timber in excess of such value as was included in the assessment of said timber at the time of the adoption of this amendment.

Classification of forest lands. Repealed by Acts 1975, No. 170.

Assessment of forest lands; liability for ad valorem taxes. Repealed by Acts 1975, No. 170.

Repeals; contracts. Any provision of this constitution, and particularly of Section 1 (as amended by Acts Nos. 162 of 1926 and 81 of 1934) and 21 (as amended by Acts. Nos. 61 of 1932, 395 of 1938, 392 of 1940 and 546 of 1948), of Article X thereof, and of any law of this state, in conflict with the provisions of this amendment, to the extent of such conflict only, is hereby repealed. Provided, that no contract heretofore entered into under the authority of Section 1 of Article X of the Constitution as amended and Act No. 90 of 1922, Act No. 71 of 1924 as amended, R.S. 56:1471 through 1495, and Acts Nos. 120 and 121 of 1926 shall be held to have been impaired by the provisions of this amendment.

Self-operative effect. This amendment shall be self-operative and no legislation shall be required to carry it into effect except as otherwise provided herein. The provision of this amendment shall take effect on January 1, 1955.

Amended by Acts 1926, No. 162, adopted Nov. 2, 1926; Acts 1934, No. 81, adopted Nov. 6, 1934; Acts 1954, No. 759, adopted Nov. 2, 1954.