(1) Emergency taxes may be imposed by the state pursuant to the requirements set forth in paragraph (a) of subsection (2) of this section without prior approval of the registered electors of the state; except that no state property tax shall be imposed as an emergency tax. (2) (a) Any emergency tax may be imposed by the state upon: (I) The declaration of a state emergency by the passage of a joint resolution which is approved by a two-thirds majority of the members of both houses of the general assembly and which is approved by the governor in accordance with section 39 of article V of the state constitution; and (II) The imposition of an emergency tax by the passage of a bill which is approved by a two-thirds majority of the members of both houses of the general assembly and which is approved by the governor in accordance with section 11 of article IV of the state constitution. (b) Any emergency tax which is imposed pursuant to paragraph (a) of this subsection (2) shall be subject to approval by a majority of the registered electors of the state at the next statewide election which occurs sixty days or more after the declaration of the emergency pursuant to subparagraph (I) of paragraph (a) of this subsection (2). Any emergency tax which is not approved at such election shall expire as of the last day of the month in which such election was held. (3) Revenues from any emergency tax imposed pursuant to the provisions of subsection (2) of this section shall not be expended until all of the state emergency reserve has been expended for such emergency. (4) Any emergency tax revenues which are not expended on the declared state emergency shall be refunded within one hundred eighty days after such emergency has ended.
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