The proposed resolution seeks to amend the New Jersey State Constitution to increase the annual property tax deduction for veterans from the current amount of $250 to $500 by the year 2027. The amendment outlines a gradual increase in the deduction, starting with $300 in 2023, $350 in 2024, $400 in 2025, and $450 in 2026, before reaching the final amount of $500 in 2027 and continuing at that level in subsequent years. Additionally, it stipulates that if a veteran's tax bill is less than the deduction amount, the tax bill will be canceled. The resolution also includes provisions for surviving spouses of veterans, allowing them to receive the same deductions during their widowhood.

Furthermore, the resolution mandates that the proposed amendment be submitted to the voters at the next general election following its final agreement. It requires publication in local newspapers to inform the public about the upcoming vote. The amendment aims to provide financial relief to veterans and their families, recognizing their service and sacrifice, and is a response to the last increase in the veterans' property tax deduction, which occurred in 1999.