Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of certain commercial real property for ad valorem tax purposes.

This bill proposes a constitutional amendment that would allow the Texas legislature to limit how much commercial real estate can be taxed based on its appraised value. Specifically, it would authorize future laws to cap the taxable value of qualifying commercial properties at 110% (or a higher percentage set by the legislature) of their prior year's appraised value, rather than their full market value. The amendment would only apply to properties meeting specific market value thresholds and defined as "commercial real property" by future legislation. It does not change current tax rates but creates a framework for potential future adjustments to commercial property taxation. The proposed amendment requires voter approval in a 2026 election.