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DIGEST OF INTRODUCED BILL
Constitutional amendment on circuit breaker. For property taxes first due and payable in 2012 and thereafter, requires the general assembly to limit a taxpayer's property tax liability on homestead property to an amount that does not exceed 1% of the gross assessed value of the homestead property. Indicates that a homestead includes certain trust, cooperative housing, and personal property. This proposed amendment has not been previously agreed to by general assembly.