The proposed resolution seeks to amend the New Jersey Constitution to increase the annual property tax deduction for veterans from $250 to $1,250, effective in 2024. This amendment would benefit any citizen and resident of New Jersey who has been honorably discharged from active military service, allowing them to receive a deduction from their property tax bills. If the tax bill is less than the deduction amount, it would be canceled. Additionally, the resolution includes provisions for surviving spouses of veterans, ensuring they receive similar benefits during their widowhood.

The resolution outlines the process for submitting this proposed amendment to the voters at the next general election, which must occur more than three months after the final agreement on the amendment. It also mandates that the amendment be published in local newspapers prior to the election. The last increase in the veterans' property tax deduction occurred in 1999, and the amount has remained at $250 since 2003. If approved, this amendment would significantly enhance the financial support provided to veterans in New Jersey.