Loading chat...
TX SJR18
Joint Resolution
Status
5/7/2025
Primary Sponsor
Charles Perry
Click for details
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