Bill > HJR1008

This joint resolution proposes an amendment to the Arkansas Constitution that would significantly change how personal property is taxed in the state. The amendment would give the General Assembly broad authority to reduce or completely eliminate taxes on personal property, allowing lawmakers to create laws that can set maximum tax rates, establish exemptions, and modify taxation rates with just a majority vote. The resolution also modifies several existing constitutional provisions related to library funding at city and county levels, allowing more flexibility in how taxes can be levied on real property, personal property, or both. Additionally, the amendment would remove the previous requirement that personal property and real property be taxed at equal rates, giving local jurisdictions more discretion in setting tax rates. The proposed changes would become effective on January 1, 2027, and would need to be approved by voters in a general election. If passed, the amendment would supersede any conflicting provisions in the current Arkansas Constitution, essentially providing the state legislature with greater flexibility in managing personal property taxation.

Government Affairs

https://arkleg.state.ar.us/Bills/Detail?id=hjr1008&ddBienniumSession=2025%2F2025R