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HCS/HJR 43- Under current law, the Hancock Amendment of the Missouri Constitution requires political subdivisions to roll-back their maximum authorized levy due to certain increases in assessed valuation. This constitutional amendment, if approved by voters, would modify the rollback requirement of the Hancock Amendment to require the current levy, as opposed to the maximum authorized levy, to be reduced to yield the same gross revenue for existing property as before an increase in assessed valuations, with an adjustment for changes in the general price level. JASON ZAMKUS |