Proposes a constitutional amendment relating to taxation

HJR 131 proposes a constitutional amendment to Missouri's Article X that would establish new property tax exemptions and set a state revenue limit. It would exempt certain properties (veterans' homesteads, manufacturing inventories, religious/charitable properties) from taxation and require counties to replace lost tax revenue through a new countywide tax on specific commercial property. The amendment also sets a state revenue cap, limiting total state taxes (excluding federal funds) to a formula based on historical revenue and Missouri personal income, effective for fiscal year 2027-2028. This would directly affect businesses (manufacturers, retailers), property owners (veterans, religious organizations), and local governments managing tax replacement mechanisms. The amendment requires voter approval to take effect.