The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Leonore Heavey.
DIGEST
SB 294 Original 2018 Regular Session Walsworth
Present constitution provides the exclusive list of exemptions from ad valorem taxation.
Proposed constitutional amendment authorizes local ad valorem taxing authorities to enter into
agreements with owners of property that will be used or is being used for manufacturing, industrial,
or commercial purposes that will provide the taxing authority with a stipulated ad valorem tax
payment.
Proposed constitutional amendment provides that these agreements for stipulated tax payments
cannot have a term of greater than 40 years.
Specifies submission of the amendment to the voters at the statewide election to be held on
November 6, 2018.
(Adds Const. Art. VII, Sec. 21(O))