Bill > HJR131

This joint resolution proposes a constitutional amendment relating to taxation with several key provisions. The amendment would modify how property taxes are handled in Missouri, including exempting certain types of personal property from taxation such as industrial inventories, goods held for resale, and household goods. It establishes a mechanism to replace revenues lost from these exemptions through a countywide tax on a specific property subclass, with provisions for adjusting this replacement tax rate. The resolution also introduces new limitations on state revenue collection, requiring voter approval for tax increases that exceed specific thresholds (either $50 million adjusted annually or 1% of total state revenues). Additionally, the amendment includes a novel provision requiring a statewide voter referendum in 2028 to potentially terminate existing constitutional taxes, with a mechanism for periodic re-evaluation every four years if the initial termination vote fails. The proposed changes aim to provide more taxpayer protections, create more transparency in tax policy, and establish new checks on the state legislature's ability to increase tax revenues without direct public consent.

https://house.mo.gov/Bill.aspx?bill=HJR131&year=2026&code=R