Prohibition against property taxation. Adds a section to the Constitution to prohibit the imposition of ad valorem property taxes by the general assembly or a political or municipal corporation. Strikes out the article authorizing the imposition of property taxes and the article concerning the municipal debt limitation based on the taxable value of property. Makes a conforming amendment. Establishes the effective date and requires the general assembly to provide by law revenue to pay after property tax collections are terminated any obligations of a political or municipal corporation to which the corporation pledged property tax revenue. This proposed amendment has not been previously agreed to by a general assembly
