The joint resolution proposes an amendment to the Florida State Constitution that aims to increase the homestead property tax exemption from all ad valorem taxes, excluding school district levies. Specifically, it seeks to raise the exemption by $100,000 annually for ten years, starting from January 1, 2027, and ultimately make homestead properties completely exempt from such taxes beginning January 1, 2037. Additionally, the resolution includes provisions to adjust the exemption amount annually for inflation based on the Consumer Price Index.

Furthermore, the resolution establishes a requirement that counties and municipalities cannot reduce their total funding for law enforcement services below the budgeted amounts from either the 2025-2026 or 2026-2027 fiscal years, whichever is higher. This measure is intended to ensure consistent funding for law enforcement despite potential revenue reductions resulting from the proposed tax exemptions. The resolution will be submitted to voters for approval or rejection at the next general election or an earlier special election authorized by law.