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<br />'" <br /> <br />e <br /> <br />e <br /> <br />( <br /> <br />t,ij <br /> <br />" <br /> <br />PROPOSED CONSTITUTIONAL AMENDMENTS <br /> <br />SJ.R. 12 <br /> <br />Sec. 1. i!l Taxation shall be equal and uniform. <br /> <br />1El All r~al property and tangible personal property in this <br /> <br />I <br />I <br />l <br /> <br />t; <br />I. <br /> <br />State, unless exempt as required or permitted by this Constitution, <br /> <br />whether owned by natural persons or corporations, other than <br /> <br />municipal, ahall be taxed in proportion to its value, which shall <br /> <br />be ascertained aa may be provided by law. <br /> <br />. js.l 'l'he Leq1s1ature may provide for the <br /> <br />taxation <br /> <br />intangible property and may also impose occupation taxes, both upon <br /> <br />natural persona and upon corporations, other than municipal, doing <br /> <br />any business. in this State. <br /> <br />It may also tax incomes of both <br /> <br />natural ~' persons and corporations other than municipal, except that <br /> <br />persons enqaqed.in mechanical and agricultural pursuits shall never <br /> <br />be required to pay an occupation tax. <br />121 The Legislature by general law shall exempt from ad' <br /> <br />valorem <br /> <br />taxation household goods not held or used for the <br /> <br />production of income and personal effects not held or used for the <br /> <br />production of income. The [~-afta-tfteJ Legislature by general law <br /> <br />may exempt from ad valorem taxation: <br /> <br />- <br />- <br /> <br />111 all or part of the personal property homestead of a <br />family or single adult, "personal property homestead" meaning that <br />personal property exempt by law from forced sale for debt: and <br />(2) sub;ect to Subsection Ce) of this section. all other <br /> <br />tangible personal property. exceot structures which are personal <br /> <br />property and are used or occupied as, residential dwellings and <br />except property held or used for the production of income. <br /> <br />ee) The governing body of a political subdivision may <br /> <br />provide for the taxation of all property exemot under a law adopted <br /> <br />under Subdivision (2) of Subsection Cd) of this section and not <br /> <br />exempt from ad valorem taxation by any other law; <br /> <br />el) To promote e~onomic development in the State, tangible <br /> <br />personal property consiatina of goods. wares. merchandise. or ores, <br /> <br />other than oil. gas; and other petroleum products. is exempt from <br /> <br />" ad valorem taxation if: <br />'. <br /> <br />el) the property ia transported from outside thia State into <br />this State to be forwarded outside this State. whether or not the <br /> <br />A-3 <br /> <br />( <br /> <br />of <br /> <br />~ <br /> <br />-..-. <br />