Constitutional amendment; taxation and finance, longtime owner-occupant tax relief program.

Constitutional amendment (first reference);taxation and finance; longtime owner-occupant tax relief program.Directs the General Assembly to implement a tax relief program bywhich longtime owner-occupants of real property are granted a totalor partial exemption from local real property taxation of real estatethe market value of which has increased as a consequence of the refurbishmentor renovation of other residences or the construction of new residencesin long-established residential areas or areas of deteriorated, vacant,or abandoned homes and properties.