S.J.R. No. 2 is a proposed constitutional amendment in Texas that seeks to increase the exemption amount for residence homesteads from ad valorem taxation by school districts from $100,000 to $140,000. This amendment applies to the market value of a residence homestead for both married and unmarried adults, including those living alone. Additionally, it allows for an 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 mandates the legislature to create formulas to mitigate revenue loss for school districts due to these exemptions.

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