The bill, titled H.B. No. 164, establishes the Commission to Study Measures to Abolish Ad Valorem Taxes, which will consist of nine members, including the comptroller of public accounts, three members from the Senate, three from the House of Representatives, and two public members appointed by the governor. The comptroller will serve as the presiding officer, and the commission will meet at the call of the presiding officer. Members will not receive compensation for their service but will be reimbursed for necessary expenses incurred while performing their duties.

The primary objective of the commission is to conduct a study on alternative methods of taxation that could replace revenue lost to political subdivisions if ad valorem taxes are abolished. The commission is required to issue a report with its findings and any legislative recommendations by December 1, 2026. The commission will be abolished, and the act will expire on September 1, 2027. The act will take effect immediately if it receives a two-thirds vote from both houses; otherwise, it will take effect 91 days after the legislative session ends.