The joint resolution proposes amendments to the Florida State Constitution, specifically targeting Sections 3 and 4 of Article VII and introducing a new section in Article XII. Its primary goal is to empower the Legislature to offer two $25,000 property tax exemptions and an assessment limitation for certain residential properties that are leased long-term (for six months or more). This initiative aims to provide financial relief to property owners, particularly those who lease their properties, thereby fostering economic development and creating a more favorable tax environment.

To ensure transparency and public involvement, the proposed amendments will be submitted to voters for approval during the next general election or a specially authorized election. The implementation of these tax benefits is scheduled to commence with the 2027 tax roll, and the resolution includes a requirement for a statement regarding the amendment to be included on the ballot. This structured approach aims to align the new provisions with general law while enhancing property tax relief for eligible individuals engaged in long-term leasing arrangements.