SJR53 is a proposed constitutional amendment that would add a new section to Article X of the Missouri Constitution prohibiting taxes on unrealized gains accrued on any asset before the asset is sold. In practical terms, the resolution would bar the state from imposing a tax based solely on paper gains that have not yet been realized through a sale or other taxable disposition.
Because it is a joint resolution proposing a constitutional amendment, the measure would not itself change tax law immediately. Instead, it would place the question before Missouri voters at the next general election in 2026, or at a special election called for that purpose. If approved, it would constrain future state taxation policy by constitutionally forbidding taxes on unrealized gains.
Impact
The bill would amend the Missouri Constitution, Article X, by adding a new section that limits the state’s taxing authority over unrealized gains. This could affect any future state tax proposal that seeks to tax appreciation in value before an asset is sold, including taxes on investments, property, or other assets if structured as unrealized-gain taxation. If adopted, the amendment would create a constitutional barrier that lawmakers could not override by ordinary statute.
Sentiment
The available context shows no committee transcript or recorded votes, so there is no documented debate to gauge legislative sentiment directly. Based on the bill’s caption and text, the measure appears to be framed as a taxpayer-protection or anti-tax proposal, but the record provided does not show formal support or opposition from committees or floor action.
Contention
The main point of contention would likely be whether Missouri should constitutionally prohibit taxation of unrealized gains at all. Supporters would likely argue that taxing gains before they are realized is unfair or economically harmful, while opponents may argue that the amendment would unnecessarily restrict future tax policy and could limit the state’s ability to design revenue systems. No specific individuals or groups are identified in the provided materials as taking either side.