Paraphrased, it's "Let's amend the state constitution to prohibit taxing the sale of real estate." Interesting. I wonder that there are not three or four hundred more propositions on the ballot, since there are many many bad-sounding laws that we can pick to prohibit people attempting to enact. How about, for example, Proposition 137, proposing an amendment to the Arizona constitution to prohibit anyone making a law requiring citizens to name their offspring "Griselda"? Or Proposition 189, proposing an amendment to the Arizona constitution to prohibit anyone making a law requiring citizens to wear blue underpants? Once we open the door to amending the constitution to prohibit the making of ill-advised laws, where does it stop?
A more important question to me is who is behind this and why? If I had lots and lots of money, and was thinking of coming to Arizona to buy large quantities of real estate, particularly in this depressed market, at a bargain basement price, I'd certainly want to make sure nobody taxed me when I turned around and sold it at an enormous profit at a future date.
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