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Constitutional Initiative No. 105 (CI-105)

BALLOT LANGUAGE

CONSTITUTIONAL INITIATIVE NO. 105

A CONSTITUTIONAL AMENDMENT PROPOSED BY INITIATIVE PETITION.

There is no existing state or local tax on transactions that sell or transfer real property in Montana. CI-105 amends the Montana Constitution to prohibit state or local governments from imposing any new tax on transactions that sell or transfer real property, such as residential homes, apartments, condominiums, townhouses, farms, ranches, land, and commercial property, after January 1, 2010.

[ ] FOR amending the Montana Constitution to prohibit state or local governments from imposing any new tax on transactions that sell or transfer real property.

[ ] AGAINST amending the Montana Constitution to prohibit state or local governments from imposing any new tax on transactions that sell or transfer real property.

THE COMPLETE TEXT OF CONSTITUTIONAL INITIATIVE NO. 105 (CI-105)

BE IT ENACTED BY THE PEOPLE OF THE STATE OF MONTANA:

NEW SECTION. Section 1. Article VIII of The Constitution of the state of Montana is amended by adding a new section 17 that reads:
Section 17. Prohibition on real property transfer taxes. The state or any local government unit may not impose any tax, including a sales tax, on the sale or transfer of real property.

NEW SECTION. Section 2. Retroactive Applicability. [This act] applies retroactively, within the meaning of 1-2-109, to the sale or transfer of real property beginning after January 1, 2010.

NEW SECTION. Section 3. Severability. If a part of [this act] is invalid, all valid parts that are severable from the invalid part remain in effect. If a part of [this act] is invalid in one or more of its applications, the part remains in effect in all valid applications that are severable from the invalid applications.

NEW SECTION. Section 4. Effective date. [This act] is effective upon approval by the electorate.