AN AMENDMENT TO THE ARKANSAS CONSTITUTION CONCERNING THE TAXATION OF PERSONAL PROPERTY AND REAL PROPERTY IN THE STATE OF ARKANSAS.

HJR 1008 proposes a constitutional amendment to change how personal and real property are taxed in Arkansas. It would authorize the General Assembly to reduce or eliminate personal property taxes and create exemptions. The amendment would also repeal the current requirement that personal and real property be taxed at an equal rate. Additionally, it modifies existing constitutional provisions for local library taxes (Amendments 30 and 38) to allow these taxes to be levied on real property, personal property, or both.