The resolution proposes an amendment to the Missouri Constitution that would repeal the existing Section 6 of Article X and replace it with a new section regarding property exemptions from taxation. The new section outlines various categories of property that would be exempt from taxation, including all property owned by the state, counties, political subdivisions, and nonprofit cemeteries. Additionally, it specifies exemptions for real property used as a homestead by certain disabled veterans, personal property held as industrial inventories by manufacturers and retailers, and tangible personal property owned by individuals aged 65 and older. The resolution also allows for exemptions for property used for religious, educational, charitable, agricultural, and veterans' purposes, as well as household goods and personal items.

Furthermore, the resolution establishes a mechanism to replace lost revenue from the exemptions through a countywide tax imposed on specific property subclasses. This tax would be calculated based on the revenue lost due to the exemptions and would be distributed to the relevant taxing authorities within the county. The resolution also includes provisions for adjusting the tax rate based on changes in assessed property values and allows for voter approval for any increases in the tax rate. The proposed amendment will be submitted to Missouri voters for approval during the general election in November 2026 or at a special election called by the governor.