AZ HCR2022

Proposes constitutional amendment to Article IX, Section 2 of Arizona Constitution to exempt personal property used for agricultural or business purposes from taxation.

Exempts the first $2.4 million in assessed cash value of personal property initially acquired in tax year 2015 or later that is used for agricultural or business purposes.

Requires the legislature to adjust the $2.4 million exemption threshold annually based on variations in a designated national inflation index.

Known as the "Small Business Job Creation Act" and requires voter approval at the next general election.