The resolution proposes a constitutional amendment to allow the Texas Legislature to set limits on the maximum appraised value of certain commercial real properties for ad valorem tax purposes. Specifically, it would enable the legislature to cap the appraised value at either the most recent market value determined by the appraisal entity or at 120% (or a higher percentage) of the appraised value from the previous tax year, provided the property meets specific eligibility criteria defined by the legislature. This amendment aims to provide a framework for the legislature to manage property tax assessments more effectively.

If approved, this constitutional amendment will be presented to voters in an election scheduled for May 2, 2026. The ballot will include a proposition allowing voters to express their support or opposition to the amendment, which seeks to authorize the legislature to limit the maximum appraised value of commercial real property for tax purposes, thereby potentially easing the tax burden on property owners within the specified parameters.