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BANKS, CORPORATIONS, FRANCHISES AND INSURERS-TAXATION

1976
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Artifact Description

BANKS, CORPORATIONS, FRANCHISES AND INSURERS--TAXATION. LEGISLATIVE CONSTITUTIONAL AMENDMENT. Amends Constitution Article XIII, sections 27 and 28(i) to require concurrence of majority instead of two-thirds of membership of both houses for passage of bills imposing tax on corporations including state and national banks and their franchises, or changing rate of taxes imposed on insurers. Financial impact: no direct fiscal effect on state or local governments.

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