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Senate panel backs constitutional changes on property, severance and local inventories; pharmacists warn on prescription sales tax
Summary
The committee adopted a 51-amendment package to a proposed Article 7 constitutional amendment that moves many exemptions into statute, creates local inventory-tax flexibility and adds severance allocation changes; a pharmacy association urged restoring exemptions for prescription drugs, calling local taxation 'a sick tax on seniors.'
The Senate Committee on Revenue and Fiscal Affairs on Nov. 19 adopted an extensive set of amendments to House Bill 7, a constitutional amendment package that moves much tax‑related language out of the constitution and into statute while preserving certain protections.
Staff described amendment set 95 as 51 discrete changes that restore some existing constitutional language, provide new local options on business inventory valuation, clarify severance‑tax allocations (including language for brine/lithium revenue splits), and create a local revenue fund mechanism to…
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