The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Danielle B. Clapinski.
DIGEST
SB 86 Original 2023 Regular Session Fields
Present constitution authorizes the Board of Commerce and Industry, with the approval of the
governor, to enter into contracts for exemption from ad valorem taxes with new manufacturing
establishments or additions to existing manufacturing establishments, on such terms and conditions
as the board, with the approval of the governor, deems in the best interest of the state. The contracts
are for a term of five years and are renewable for up to an additional five years.
Proposed constitutional amendment provides that all such contracts shall not apply to taxes levied
for purposes related to elementary and secondary education.
Specifies submission of the amendment to the voters at the statewide election to be held on October
14, 2023.
Effective January 1, 2024, and applies to all new contracts entered into, and all renewals of existing
contracts, occurring on or after that date.
(Amends Const. Art. VII, Sec. 21(F))