The joint resolution proposes an amendment to the Florida State Constitution that would allow the Legislature to exempt certain tangible personal property from ad valorem taxation. Specifically, it seeks to amend Section 3 of Article VII and create a new section in Article XII, enabling exemptions for tangible personal property located on agricultural land, provided that the property is used in the production of agricultural products or for agritourism activities, and is owned by the landowner or leaseholder. This amendment is intended to take effect starting with the 2027 tax roll.

Additionally, the resolution outlines various existing tax exemptions, including those for municipalities, educational and charitable purposes, and community and economic development initiatives. It also specifies that the proposed exemption for tangible personal property on agricultural land will be subject to general law and will require approval from the electorate at the next general election or a special election. The resolution emphasizes the importance of supporting agricultural activities and agritourism in Florida through tax relief measures.