SJR 011 Exempts from taxation motor vehicles used primarily for non-business purposes
LR Number:S0448.02I Fiscal Note:0448-02
Committee:Ways and Means
Last Action:02/09/99 - Hearing Conducted S Ways & Means Committee Journal page:
Effective Date:Contingent upon voter approval
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Current Bill Summary

SJR 11 - This proposed constitutional amendment, if approved by the voters, exempts from taxation motor vehicles used primarily for nonbusiness purposes, as defined by law. The state is required to reimburse local political subdivisions for any revenue losses not recovered through existing state funding sources or by tax rate adjustments. The reimbursement amounts are excluded from the calculation of total state revenue under the Hancock Amendment.