- A - Provides for inventory of businesses to be exempt from state property tax.
Shall the Act be approved which grants an exemption from state ad valorem taxation for inventory of a business?" This Act provides that all tangible personal property constituting the inventory of a business shall be exempt from state ad valorem taxation. If approved by a majority of the voters, the Act becomes effective on January 1, 2011, and applies to all tax years beginning on or after that date.