AZ HCR2029

Proposes constitutional amendment to exempt the first $2 million of full cash value of personal property initially acquired in 2019 or later that is used for agricultural purposes or in a trade or business from state property taxation.

Legislature may adjust the $2 million exemption amount according to annual variations in a designated national inflation index.

Maintains existing exemptions for household goods, inventory of retailers and wholesalers, and property of honorably discharged veterans and widows.

Measure shall be known as the "Small Business Job Creation Act."

Requires submission of proposition to voters at the next general election per Arizona constitutional procedures.