AZ SCR1036

Proposes constitutional amendments to exempt personal property used in trade or business from taxation through a phase-out schedule beginning in tax year 2014 and achieving full exemption by tax year 2023.

Removes language from Article IX, Section 2 that allowed legislature to exempt personal property "in a trade or business" (keeping only agricultural exemption language).

Implements graduated exemption percentages: 10% exempt in 2014, increasing by 10% annually, reaching 100% exemption by 2023.

Maintains current $50,000 exemption threshold through tax year 2013, adjustable annually for inflation according to a designated national inflation index.

Requires voter approval via general election per Arizona's constitutional amendment process under Article XXI.