Prohibition on Levying Ad Valorem Taxes on Tangible Personal Property

Summary

The measure sought to stop counties, school districts and municipalities from levying ad valorem taxes on items such as equipment, fixtures and other tangible personal property. It would align state statutes with a proposed constitutional amendment and repeal many existing rules that govern how those taxes are assessed, filed and collected. The bill died in the Ways & Means Committee and did not become law.

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