Summary of Senate Concurrent Resolution 1043

• Proposes to repeal Arizona Constitution Article IX, sections 2, 2.1, 2.2, and 2.3 relating to property tax exemptions.

• Replaces repealed sections with a new Article IX, Section 2 that establishes property tax exemptions in four categories: mandatory exemptions (federal, state, county, municipal property; public debt bonds; household goods; retailer/wholesaler inventory) and discretionary exemptions the legislature may grant (educational/charitable/religious property; personal property used in trade, business or agriculture; cemeteries; widows/widowers; persons with disabilities; honorably discharged veterans with disabilities).

• Exemptions under the mandatory category are self-executing and require no affirmative action by property owners.

• Prohibits individuals from claiming exemptions in more than one category among widow, widower, person with disability, or veteran with disability statuses.

• Requires submission of the proposed amendment to Arizona voters at the next general election.