The resolution, S.J.R. No. 66, proposes a constitutional amendment to allocate a portion of revenue from state sales and use taxes, as well as insurance premium taxes, to the Texas water fund. Specifically, it outlines that the Texas water fund will receive net revenue exceeding $46.5 billion from state sales and use taxes in a fiscal year, capped at $500 million, along with the first $500 million from insurance premium taxes. The amendment also stipulates that at least 25% of the initial appropriated funds must be allocated to the New Water Supply for Texas Fund, with a requirement that 80% of funds deposited before September 1, 2043, also be directed to this fund.

Additionally, the resolution includes provisions for the legislature to allocate funds to the Texas Water Development Board and restricts amendments to these allocations during the designated ten-year periods. The proposed amendment will be submitted to voters for approval in an election scheduled for November 4, 2025. If passed, the new provisions will take effect on September 1, 2027, with a temporary provision expiring on September 1, 2028.