Proposing a constitutional amendment to abolish ad valorem taxes.

This bill proposes a constitutional amendment to ban ad valorem taxes (property taxes) in Texas after January 1, 2031. It would prevent cities, counties, and other local governments from levying these taxes on real or personal property starting in 2031. The amendment also requires the state to guarantee repayment of school district bonds issued before November 4, 2025, that were secured by pre-2031 property taxes. The proposed amendment must be approved by voters in the November 4, 2025, election.