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AR HJR1004
Joint Resolution
Status
10/15/2021
Primary Sponsor
Stephen Meeks
Click for details
AI Summary
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General Assembly may reduce or eliminate personal property taxation by law and create exemptions, effective immediately upon voter approval.
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General Assembly must provide by law that no tax shall be levied on personal property by January 1, 2047.
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Repeals the requirement that personal property and real property be taxed at equal rates, allowing different tax rates for each property type.
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Amends Arkansas Constitution Amendments 30 and 38 to permit taxes for public library purposes to be levied on real property, personal property, or both rather than requiring equal taxation.
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Amendment becomes effective January 1, 2023, and requires majority vote of both houses of the General Assembly for passage of implementing laws.
Legislative Description
An Amendment To The Arkansas Constitution Concerning The Taxation Of Personal Property And Real Property In The State Of Arkansas.
Last Action
Died in House Committee at Sine Die Adjournment
10/15/2021