The resolution proposes a constitutional amendment to abolish ad valorem taxes in Texas, effective January 1, 2030. It stipulates that, with the exception of certain circumstances, political subdivisions of the state will no longer be allowed to impose these taxes for any purpose after this date. However, it includes a provision that allows for the continuation of ad valorem taxes solely for the purpose of repaying existing bonds or obligations that were issued prior to the cutoff date, ensuring that these financial commitments can still be met.

The proposed amendment will be presented to voters in an election scheduled for May 2, 2026. The ballot will provide the option to vote for or against the proposition, which is framed as "The constitutional amendment to abolish ad valorem taxes." This resolution reflects a significant shift in tax policy, aiming to eliminate a traditional form of taxation while still addressing the need to honor prior financial obligations.