H.J.R. No. 4 is a joint resolution proposing a constitutional amendment to prohibit the Texas legislature from enacting laws that impose an occupation tax on registered securities market operators or taxes on securities transactions conducted by these operators. The resolution defines "registered securities market operator" and "securities transaction" in accordance with existing federal regulations, specifically referencing the Securities Exchange Act of 1934 and the Commodity Exchange Act. The amendment aims to protect these entities from additional taxation that could hinder their operations.

The proposed amendment will be submitted to voters in an election scheduled for November 4, 2025. The ballot will include a proposition for voters to decide whether to support the constitutional amendment that restricts the legislature's ability to impose such taxes. The resolution has already passed both the House and Senate with significant majorities, indicating legislative support for the measure.