The resolution proposes a constitutional amendment to allow the Texas legislature to exempt a portion of the market value of tangible personal property from ad valorem taxation, specifically for property that is owned and used for income production. The amendment seeks to modify Section 1(g) of Article VIII of the Texas Constitution, enabling the exemption of up to $250,000 of the market value of such property. This change aims to alleviate the tax burden on individuals and businesses that rely on tangible personal property for generating income.

Additionally, the resolution includes a temporary provision stating that the amendment will take effect for the tax year beginning January 1, 2025, and will expire on January 1, 2027. The proposed amendment will be presented to voters in an election scheduled for November 4, 2025, allowing the public to decide whether to support the exemption from ad valorem taxation for income-producing tangible personal property.