The resolution proposes a constitutional amendment to establish a Property Tax Reduction Fund in Texas, which would be funded by dedicating a portion of surplus state sales tax revenue. Specifically, the fund will receive 60% of the excess sales tax revenue collected beyond the amount that can be appropriated in a given fiscal biennium, as determined by existing growth limits on appropriations. The fund will be administered by the Comptroller of Public Accounts and can only be used to reduce school district maintenance and operations ad valorem taxes. If there are surplus funds after meeting this obligation, the legislature may allocate the excess to reduce other state taxes.

Additionally, the resolution includes a temporary provision that outlines the implementation timeline for the fund, which will take effect starting with the fiscal biennium beginning September 1, 2027, and will expire on September 1, 2028. The proposed amendment will be presented to voters in an election scheduled for May 2, 2026, allowing them to decide whether to support the creation of the Property Tax Reduction Fund and the allocation of surplus state revenue to it.