House Concurrent Resolution No. 5034 proposes an amendment to the Kansas Constitution to create a "freedom from taxes fund" aimed at eliminating various taxes, including motor vehicle property taxes, state-mandated property taxes, and state income and privilege taxes. The fund will consist of three sub-funds dedicated to the specific elimination of these taxes and will be managed by the state treasurer. To facilitate this process, the resolution establishes a temporary Kansas citizens freedom review board tasked with reviewing existing state tax exemptions and determining their approval or elimination. This board will issue a final report within one year of its formation before being dissolved.

The resolution also outlines the financial mechanisms for transferring funds and managing interest earnings related to the tax eliminations, ensuring that the principal amounts in the freedom from taxes fund remain intact. It emphasizes that any new tax exemptions will have a maximum duration of five years unless renewed by the legislature, and it allows for the possibility of depositing collected moneys from eliminated tax exemptions into the state general fund or proposing further tax eliminations. If approved, the amendment will be presented to voters in the general election of November 2026, with a focus on providing tax relief for current and future generations of Kansans.