Proposing an amendment to the Oregon Constitution relating to excluding partial exemptions and property tax credits from the requirement of redetermining the maximum assessed value of property granted exemption or credit.

Proposes an amendment to the Oregon Constitution to exclude partial exemptions of the assessed value of property, and tax credits against property taxes on property, from the requirement that the maximum assessed value of the property be redetermined when the property is first granted or disqualified from a partial exemption or property tax credit. Refers the proposed amendment to the people for their approval or rejection at the next regular general election.