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Show COMPLETE TEXT OF PROPOSITION NO. 1 TANGIBLE PERSONAL PROPERTY' TAX EXEMPTION RESOLUTION A JOINT RESOLUTION OF THE 45TH LEGISLATURE OF THE STATE OF UTAH PROPOSING TO AMEND ARTICLE XIII OF THE CONSTITUTION OF UTAH TO AUTHORIZE THE LEGISLATURE TO EXEMPT AIRCRAFT, WATERCRAFT. MOTOR VEHICLES, OR OTHER TANGIBLE PERSONAL PROPERTY REQUIRED BY LAW TO BE REGISTERED BEFORE IT IS USED ETON PUBLIC HIGHWAYS AND PUBLIC LANDS FROM TAXATION AS PROPERTY, AND PROVIDE IN LIEU OF - SUCH PROPERTY- TAX UNIFORM UNIFORM STATEWIDE STATEWIDE RATES OF ASSESSMENT FEES. OR OR LEVY. Be it resolved by the Legislature of the State of Utah, two thirds of all members elected to each of the two houses voting in favor thereof: It is proposed to amend Article XIII of the Constitution of Utah by adding a new section to read: Section 1. Aircraft, watercraft, motor vehicles, and other tangible personal property, not otherwise exempt under the laws of the United States or under this Constitution, may be exempted from taxation as property by the Legislature. In the exercise of the discretion granted under this section. Sec. 14. however, the legislature may only exempt tangible personal property that is required by law to be registered with the state before it is used on a public highway, on a public waterway, on public land, or in the air. If the legislature exempts tangible personal property from taxation under this section, it shall provide for uniform statewide fees or uniform statewide rates of assessment or levy in lieu of the tax or. such property. The value of any tangible personal propern ereipted from taxation, however, shall remain and be considered as part of the state tax base for the purpose of determining debt limitations as set forth in Article XIV of this Constitution. The proceeds from such a tax or fee are not art; tct to Sec. 13 of this t.cle and shall be distributed to . the taxing districts the exempted property is located in the same proportion as the revenue collected from property tax is distributed to such districts. in r The lieutenant governor is directed to submit this proposed amendment to the electors of the State of Utah at tV next general election in the manner provided by law Z t.on 2. S.ttion ar-ndmer- 3. If adopted by the electors of this state, this shall take effect December 31, 19S4. |