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 imposition of ad valorem taxes solely for the purpose of repaying existing bonds or obligations that were issued prior to January 1, 2030, which are secured by revenue from these taxes. This revenue can only be used to fulfill the obligations until they are fully paid off.

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." If passed, this amendment would significantly alter the taxation landscape in Texas by eliminating a key source of revenue for local governments while allowing for the continuation of tax collection to meet existing financial obligations.