The joint resolution proposes an amendment to the Florida State Constitution that aims to increase the homestead exemption from $25,000 to $75,000 for all tax levies, while also providing for annual adjustments based on inflation. Additionally, the resolution seeks to eliminate the homestead exemption for school district levies. The proposed changes would be submitted to the state's electors for approval or rejection during the next general election or a specially authorized election.

If approved, the amendment would revise Section 6 of Article VII and create a new section in Article XII of the State Constitution, with the new exemption taking effect on January 1, 2027. The resolution outlines the specifics of the exemption, including eligibility criteria and the process for adjustments based on the Consumer Price Index. The ballot statement accompanying the resolution will inform voters of the proposed changes to the homestead exemption.