The resolution proposes a constitutional amendment to allow political subdivisions, excluding school districts, counties, municipalities, and junior college districts, to impose a limitation on the total amount of ad valorem taxes on the residence homesteads of certain low-income individuals who are disabled or elderly, as well as their surviving spouses. If a qualifying individual receives a residence homestead exemption, the political subdivision may not increase the total amount of ad valorem taxes on that homestead while it remains their residence. Additionally, if a petition signed by five percent of registered voters is submitted, the governing body must call an election to determine whether to establish this tax limitation.

The amendment also includes provisions for the transfer of tax limitations if a qualifying individual moves to a different homestead within the same political subdivision. It specifies that taxes may only be increased if the homestead's value rises due to improvements, excluding repairs or compliance-related upgrades. The governing body cannot repeal the established tax limitation, and the legislature may define the criteria for determining financial need. The proposed amendment will be submitted to voters in an election scheduled for May 2, 2026, and is set to take effect on January 1, 2027, with a temporary provision expiring on January 1, 2028.