Proposing a constitutional amendment providing for the creation of the property tax reduction fund and dedicating certain surplus state revenue to the fund.

HJR 33 proposes a constitutional amendment to create a "property tax reduction fund" that would use surplus state sales tax revenue to lower school district property taxes. The fund would receive 60% of annual sales tax revenue exceeding a growth limit for state spending, with all funds required to reduce school district property taxes. Any surplus beyond school tax reductions could be used by the legislature to lower other state taxes. This amendment must be approved by voters in a May 2026 election and would take effect for the 2027 fiscal biennium.