S.J.R. No. 2 is a proposed constitutional amendment aimed at increasing the exemption amount for residence homesteads from ad valorem taxation by school districts in Texas. The amendment seeks to raise the exemption from $100,000 to $140,000 for the market value of a residence homestead owned by married or unmarried adults, including those living alone. Additionally, it allows for an extra exemption of up to $10,000 for disabled individuals and those aged 65 and older, with provisions for the legislature to determine eligibility based on economic need. The amendment also includes stipulations regarding the continuation of tax levies for previously pledged debts and outlines the legislature's responsibility to protect school districts from revenue losses due to these exemptions.

The proposed amendment will take effect for the tax year beginning January 1, 2025, and includes a temporary provision that will expire on January 1, 2027. It is set to be submitted to voters for approval during an election on November 4, 2025, with the ballot allowing voters to express their support or opposition to the increase in the exemption amount. The resolution has received unanimous support in both the Senate and the House, indicating strong legislative backing for the proposed change.