Exemption of nonbusiness personal property. Excludes nonbusiness personal property (other than mobile homes) from the definition of taxable personal property. Eliminates a reference in the property tax law to the excise taxes imposed on boats and trailers. Imposes an excise tax in lieu of a property tax on recreational vehicles and truck campers. Permits the department of local government finance to adjust levies, tax rates, and recreational vehicle and truck camper excise tax distributions to adjust for the effects of the elimination of property taxes on nonbusiness personal property. Makes an appropriation.
