The joint resolution proposes amendments to the Florida State Constitution, specifically targeting Sections 3, 4, and 9 of Article VII, and introduces a new section in Article XII. The primary aim of these amendments is to prohibit counties, school districts, and municipalities from levying ad valorem taxes on tangible personal property. This change is intended to provide tax relief to individuals and businesses by eliminating a specific form of taxation that can impact personal and business assets.

If approved by voters in the next general election or a special election, these amendments will take effect on January 1, 2027. The resolution outlines the necessary adjustments to existing tax regulations and exemptions, ensuring that the prohibition on ad valorem taxes on tangible personal property is clearly established within the state constitution. The proposed changes will be presented to the electorate for approval, emphasizing the legislative intent to enhance economic development and reduce the tax burden on property owners.