Staff Analysis of the Legislation
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SUMMARY: This resolution calls for an amendment to the Constitution to prohibit the levy of state ad valorem taxes except in the case of an emergency.
REQUIREMENTS:
- Intangible tax revenues to the state would become ΒΌ mill on each dollar of assessed value;
- Would not apply to ad valorem taxes on public utilities, railroad companies and airlines on behalf of local government or administrative functions with respect to local ad valorem taxation;
- State would continue to assure all taxation is uniform per class of subjects across the state.
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