Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation by one or more political subdivisions tangible personal property used by the owner of the property to manufacture, process, or fabricate tangible personal property for ultimate sale.

Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation income-producing tangible personal property valued at less than $50,000.

Relating to abolishing the property tax assistance division of the office of the comptroller of public accounts and transferring its powers and duties to the newly created State Property Tax Board.

Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of certain property owned by research technology corporations created by public or private institutions of higher education to develop and commercialize technologies owned by the institutions.

Relating to the creation of research technology corporations by institutions of higher education; providing for tax exemptions; providing a penalty.