MO SJR117

Proposes a constitutional amendment called the "Taxpayer Protection Act" to be voted on in November 2026, taking effect January 1, 2027

Requires voter approval in advance for any new tax, tax rate increase, mill levy increase, assessment ratio increase, extension of expiring taxes, or tax policy changes causing net revenue gains to state or local governments

Caps annual state spending growth at inflation plus population change; caps local government spending growth at inflation plus local growth (property value changes for non-school districts, enrollment changes for school districts)

Mandates refunds with 10% annual interest for revenue collected illegally, requires districts to maintain emergency reserves of 1-3% of fiscal year spending, and prohibits new state real property taxes and local income taxes

Requires districts to mail voter notices at least 30 days before ballot elections on tax or debt increases, including spending history and estimated costs, with ballot titles specifying exact dollar amounts of proposed increases