The joint resolution proposes an amendment to the Florida State Constitution that would allow the Legislature to extend the same property tax exemptions and assessment limitations currently available to homestead properties to certain real properties that are subject to long-term leases. Specifically, this amendment would apply to properties that are under a written lease of six months or more and are owned by individuals who already hold legal or equitable title to real estate receiving a homestead exemption. The proposed changes would be submitted to voters for approval at the next general election or a special election authorized by law.

If approved, the amendment would modify Section 6 of Article VII and create a new section in Article XII of the State Constitution, with the new provisions taking effect on January 1, 2027. The resolution outlines the specific conditions under which these exemptions and limitations would apply, ensuring that the benefits are aligned with those granted to homestead properties. This initiative aims to provide tax relief to property owners and renters alike, thereby promoting housing stability and affordability in Florida.