Constitutional amendment; limiting the reimbursement to counties and other taxing jurisdictions for lost revenue; ordering special election.

Summary

The joint resolution proposes a constitutional amendment that limits the amount the state must repay counties and other taxing jurisdictions for property‑tax revenue lost when a manufacturing facility receives a five‑year ad valorem tax exemption. It also allows counties, after the exemption period, to keep up to 25% of the additional taxes generated, subject to a 10‑mill limit. The amendment will be placed on a statewide ballot in a special election on August 25, 2026.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share