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TX SJR18

Joint Resolution

Status

Passed

5/7/2025

Primary Sponsor

Charles Perry

Click for details

Origin

Senate

89th Legislature Regular Session

AI Summary

  • Proposes amending Article VIII of the Texas Constitution to prohibit the legislature from imposing any tax on realized or unrealized capital gains for individuals, families, estates, or trusts

  • Prohibition includes taxes on the sale or transfer of capital assets payable by the seller or transferor

  • Explicitly preserves the state's authority to impose ad valorem property taxes, sales taxes on goods and services, and use taxes on storage or consumption of goods

  • Constitutional amendment to be submitted to voters on November 4, 2025

  • Adopted by the Senate 24-6 on March 18, 2025, and by the House 104-26 (with amendment) on April 28, 2025; Senate concurred in House amendment 25-6 on May 5, 2025

Legislative Description

Proposing a constitutional amendment prohibiting the imposition of a tax on the realized or unrealized capital gains of an individual, family, estate, or trust.

Taxation

Last Action

Filed with the Secretary of State

5/7/2025

Committee Referrals

Ways & Means3/25/2025
Finance2/3/2025

Full Bill Text

No bill text available