Prohibits the taxation of unrealized gains

This proposed constitutional amendment (SJR 96) would prohibit Missouri from taxing increases in value of assets - like stocks, real estate, or business holdings - until those assets are actually sold. It directly affects all Missourians who own appreciating assets, as it would prevent the state from collecting tax on value gains that occur while holding the asset. The key provision adds a new constitutional section stating no tax can be imposed on "unrealized gains" prior to sale. If approved by voters, this would change how Missouri taxes investment growth, requiring assets to be sold before tax applies.