MO HJR37

Submits to Missouri voters a constitutional amendment to repeal and replace Section 6 of Article X of the Missouri Constitution regarding property tax exemptions.

Extends property tax exemption to military veterans with any degree of service-connected disability as certified by the appropriate federal veterans' agency, in addition to existing exemptions for former prisoners of war and homestead property.

Authorizes a countywide tax on commercial property (subclass 3 of class 1) to replace revenue lost from exemptions of manufacturer and retail merchant inventory, with the tax rate set in the first year and held constant unless voters approve a decrease.

Requires the county collector to distribute replacement tax revenues to each taxing authority based on their individual revenue losses from the exemptions.

Permits voter-approved decreases to the replacement tax rate upon petition of at least eight percent of qualified voters from the preceding gubernatorial election.