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 the exemption of 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 of that land. This amendment would take effect starting with the 2027 tax roll.

The resolution outlines various existing tax exemptions and establishes the framework for the proposed changes. It includes provisions for exemptions related to municipal property, household goods, community and economic development, historic preservation, and conservation efforts. Additionally, it specifies that the new exemption for tangible personal property on agricultural land would be subject to general law and would require approval from the electors of the state during the next general election or a special election authorized by law.