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 objective is to empower the Legislature to grant two $25,000 property tax exemptions and an assessment limitation for certain residential properties that are leased under long-term agreements of six months or more. To qualify for these exemptions, the property must be maintained as the owner's permanent residence, and the owner must also hold legal or equitable title to another property that receives a homestead exemption.

The resolution outlines the process for presenting these amendments to Florida voters for approval during the next general election or a specially authorized election. It emphasizes the necessity for general law to define eligibility criteria and limitations for the exemptions. The proposed changes aim to provide tax relief to property owners while ensuring fair property assessments, with implementation scheduled to begin with the 2027 tax roll. Additionally, the resolution mandates that the proposed amendment be included on the ballot for voter consideration.