Proposing revision of Oregon Constitution relating to taxation; and requiring approval by a two-thirds majority.

Proposes revision of Oregon Constitution directing Legislative Assembly to adopt sales tax on purchase price of tangible personal property and services and use tax on purchase price of tangible personal property. Requires exemption from taxes for necessities. Preempts local sales and use taxes not approved on or before November 6, 2018. Exempts all owner-occupied primary residences from all property taxation. Provides sales and use taxes shall be set at rate determined by Legislative Revenue Officer to be necessary to replace revenue formerly collected on residential property granted exemption from property taxation and to pay ongoing administrative costs of sales and use taxes. Refers proposed revision to people for their approval or rejection at next primary election.