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 define "commercial real property" and establish additional requirements for properties to qualify for the appraised value limitation. The proposed changes would take effect either on the law's effective date or January 1 of the following tax year, depending on ownership status. The amendment is set to be presented to voters in an election scheduled for May 2, 2026, allowing them to decide on the proposition to authorize these limitations on commercial property appraisals.