Section 1. Levy amount; inflation. Eliminates the automatic inflator for the state general levy and sets the state general levy base amount at $591,660,000 for commercial-industrial property and at $38,100,000 for seasonal-residential recreational property, for taxes payable in 2018 and thereafter. Each levy base amount is reduced by the amount of the exclusions found in Section 2 and 3 to prevent a shift onto other properties.

Section 2. Commercial-industrial property; exclusion. Excludes the first $500,000 of commercial-industrial property from the state general levy for taxes payable in 2018 and thereafter.

Section 3. Seasonal residential recreational property; exclusion. Excludes the first $50,000 of seasonal residential recreational property value from the state general levy for taxes payable in 2018 and thereafter.

Section 4. Apportionment and levy of state general tax.  Eliminates the current 95/5 percent apportionment of the state general levy between commercial-industrial and seasonal residential recreational property as each levy base amount is now separately stated in Section 1.

Effective Date. All sections are effective for taxes payable in 2018 and thereafter.