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

The proposed amendments outline specific eligibility criteria for property ownership and usage, ensuring that only qualifying properties benefit from these exemptions. If approved by voters during the next general election or a specially authorized election, the changes would create a more favorable tax environment for property owners engaged in long-term leasing. The implementation of these amendments is scheduled to begin with the 2027 tax roll, and the resolution mandates that the proposed amendment be placed on the ballot for voter consideration.