HJR 50 -- Property Tax on Personal Property

Sponsor:  Wright

This proposed amendment to the Missouri Constitution exempts all
personal property from property taxation.  The lost revenues to
political subdivisions from the exemption will be replaced with
a state-wide sales and use tax increase.  The sales and use tax
increase will be in an amount necessary to replace the lost
revenues, adjusted annually.  The Department of Revenue will
distribute the replacement revenues to the affected political
subdivisions based on calculations by the county clerk of each
county.