The resolution proposes an amendment to the Constitution of Missouri that would repeal Section 22 of Article X and replace it with a new section concerning the taxation of real property. This amendment aims to restrict counties and other political subdivisions from levying any new taxes, licenses, or fees that are not authorized by law or charter, as well as from increasing existing levies without the approval of a majority of qualified voters. Additionally, it establishes guidelines for adjusting the maximum authorized current levy based on changes in property valuation and the general price level, ensuring that revenue from existing properties remains consistent despite fluctuations in assessed values.

The proposed amendment will be submitted to Missouri voters during the general election scheduled for November 2026, or at a special election called by the governor. It includes provisions that allow for adjustments to the maximum authorized current levy if property valuations increase disproportionately compared to the general price level, and it mandates that any necessary increases in levies for specific subclasses of real property must be approved by voters. Overall, the resolution seeks to enhance taxpayer protections and maintain stable revenue generation for local governments.