The joint resolution proposes an amendment to the Florida State Constitution that revises the homestead property tax exemption, increasing the exemption amount for certain nonschool property taxes while exempting locally approved taxes, special districts, and municipal service taxing units from this exemption. The amendment also limits the annual inflation adjustment for the exemption to the first four years of eligibility. Additionally, it mandates that public safety funding from local governments must remain at or above current levels, adjusted for inflation through 2031, ensuring that essential services such as law enforcement and firefighting are adequately funded.

Furthermore, the resolution requires the establishment of a trust fund to compensate for any lost revenue resulting from the increased homestead exemption. This amendment is set to take effect on January 1, 2027, and will be presented to voters for approval or rejection at the next general election or an earlier special election. The proposed changes aim to balance the benefits of increased tax exemptions for homeowners with the need to maintain essential public safety services and ensure local governments are not financially burdened by the adjustments.